Nomura Holdings and GMO Internet Group have announced a strategic alliance with the goal of issuing stablecoins in Japan. The stablecoins will be denominated in Japanese yen and US dollars, according to the official statement. The alliance also includes Laser Digital Holdings, a company owned by Nomura Holdings, which specializes in digital asset trading and management solutions.
The partnership aims to leverage the expertise of GMO Internet Group, Nomura Holdings, and Laser Digital Holdings in stablecoin issuance and digital assets to provide high-quality services in the stablecoin business. Nomura Holdings, through Laser Digital, will support the issuance of stablecoins in Japan, drawing on its extensive experience in digital asset trading, asset management, and risk investment.
The proposed partnership will explore the mechanisms for issuing, redeeming, and circulating stablecoins in JPY and USD. Additionally, it will offer a “Stablecoin-as-a-Service” solution to support companies issuing stablecoins, which includes regulatory compliance management, technology integration, blockchain, and back-end transaction management.
Kentaro Okuda, president and CEO of the Nomura Holdings group, emphasized the importance of the partnership in developing the project. He stated that stablecoins will play a crucial role in financial markets, and Nomura and Laser Digital are excited to collaborate with GMO to explore the mechanisms of a JPY/USD stablecoin business in Japan. The project has the potential to enhance the accessibility and innovation of digital assets in the Japanese financial landscape.
In another development, Laser Digital, the digital assets division of Nomura, has made a significant financial investment in MANTRA, a blockchain platform focused on real-world assets (RWA). This investment aims to position MANTRA as the leading Layer-1 blockchain for RWAs in the emerging markets of the Middle East and Asia.
The collaboration between MANTRA and Laser Digital will strengthen the implementation of RWA tokenization in these regions by combining MANTRA’s innovative expertise with Laser Digital’s extensive experience in asset digitization. Laser Digital’s influence in the region is evident from its licenses as a virtual asset broker-dealer and its management and investment services granted by the Dubai Virtual Assets Regulatory Authority in 2023, as well as preliminary approval from the Financial Services Regulatory Authority of the Abu Dhabi Global Market.
Please note that the views and opinions expressed in this article are for informational purposes only and do not constitute financial or investment advice. Investing or trading cryptocurrencies carries a risk of financial loss.
In other news, the number of Tether (USDT) and USDC wallets has seen an increase, indicating the growing stablecoin market. Tether has recorded over 18 million transactions and is approaching all-time highs.