Nomura Holdings and several other corporate groups partnered together to form a stablecoin research group that will explore the various use cases and potential of stablecoins.
Nomura Holdings, a financial services conglomerate, has shed light on the growing importance of stablecoin adoption. The company partnered with the GMO Internet Group and Laser Digital Holdings to start a stablecoin research group. The group will explore stablecoins with the goal of issuing yen and USD-based stablecoins in Japan.
According to a press release, the GMO Group already issues stablecoins on various blockchains. Meanwhile, Nomura Holdings will lend its expertise in digital asset trading, venture investment, and asset management to the project.
The group will research a ‘stablecoin as a service’ solution, with issuance and circulation of USD and JPY stablecoins. It noted how the solution will also include backend transaction management, blockchain integration, and management of regulatory compliance.
Stave Ashley from the Laser Digital Group said, “We’re excited to explore this project and the ‘stablecoin-as-a-service’ solution. As the digital asset landscape evolves, the development of a stablecoin for use in the Japanese market will be key to expanding the accessibility and adoption of digital assets in Japan and beyond.”
Senior representatives from the GMR Group and Nomura Holdings also praised the partnership. The press release noted the bullishness of all group members on stablecoins.
Japan’s laws on stablecoins are supportive of the industry, and the country is also long on crypto in general. Companies in Japan have also resorted to holding Bitcoin as a reserve asset in recent times. Apart from allowing favorable tax cuts, Japan’s government has also enabled companies to raise funds by issuing crypto assets.
Moreover, stablecoin adoption is on the rise worldwide. A stablecoin bill is currently in the works in the world’s largest economy, the US.
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