- The massive Japanese bank plans to investigate the possibility of issuing stablecoins in Japan that are valued in US dollars and yen.
Stablecoin issuance in Japan is being investigated by Nomura, a major Japanese bank, and Laser Digital, its digital asset division, in collaboration with GMO Internet Group, a Japan-based company.
The companies announced on Monday that they intend to investigate the issuance, redemption, and distribution of stablecoins denominated in US dollars and Japanese yen.
In order to help businesses issue stablecoins, the alliance also intends to provide “stablecoin-as-a-service” solutions. According to the statement, this kind of product will probably include backend transaction management, blockchain integration, and regulatory compliance management.
Nomura, Laser Digital, and GMO intend to contribute more on the technology side of things, while GMO will concentrate more on venture investing, asset management, and cryptocurrency trading through the cooperation.
According to Steve Ashley, executive chairman of Laser Digital, “a stablecoin for the Japanese market will be essential to growing the accessibility and adoption of digital assets in Japan and beyond as the landscape of digital assets evolves.”
GMO’s U.S. subsidiary, GMO-Z.com Trust, previously issued stablecoins on a number of blockchains, such as ZUSD and GYEN.
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
