Japanese Financial Giant Nomura Targets Stablecoin Market, JPY And USD To Be Targeted
JAKARTA - Stablecoins, crypto assets whose value is pegged with fiat currencies such as the United States dollar (USD) or Japanese yen (JPY). Seeing this potential, Japan's financial giant Nomura partnered with internet infrastructure company GMO Internet to dive into the stablecoin market.
This collaboration not only involves Nomura, but also their subsidiary who focuses on digital assets, the Digital Laser. The presence of the Digital Laser complements this trio with GMO Internet, which is the parent company of the well-known stablecoin publisher, GMO-Z.
Their ambitious plan does not stop at the issuance of stablecoins alone. These three entities plan to offer a "Stablecoin-as-a-Service" (SaaS) solution to businesses in Japan. This solution is expected to make it easier for companies interested in issuing their own stablecoins.
Nomura Holdings president and CEO Kentaro Okuda is enthusiastic about the opportunities offered by stablecoins. "Stablecoins will certainly play an important role in the financial market," said Okuda, quoted from Cointelegraph.
"Nomura and a subsidiary of our digital asset, Laser Digital, are delighted to partner with GMO to explore JPY/USD stablecoin/USD issuance mechanisms and circulation in Japan. This project has great potential to increase accessibility of digital assets and encourage financial innovation in Japan."
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The collaboration between Nomura, Laser Digital, and GMO Internet does not only focus on issuing JPY and USD stablecoins. They also offer SaaS solutions that business people who are interested in issuing their own stablecoins.
These solutions cover various important aspects, such as:
GMO Internet, as a partner of Nomura and Laser Digital, has unquestionable experience in terms of stablecoins. Their subsidiary, GMO-Z, is a ZUSD stablecoin issuer (deposited at USD) and GYEN (tuned with JPY). Both stablecoins are currently available on the Solana, Ethereum, and Stellar blockchain networks.