These 3 Companies Want to Offer "Stablecoin-as-a-Service" in Japan
Nomura Holdings, Inc., a global financial services group, and its digital asset subsidiary, Laser Digital Holdings AG, have announced a strategic partnership with GMO Internet Group, Inc. to explore the issuance of Japanese yen (JPY) and US dollar (USD) stablecoins in Japan. Nomura and GMO Internet Group Explore Stablecoin Issuance in JapanThis collaboration aims to leverage each company's experience to provide a secure stablecoin solution for the Japanese market. GMO Internet Group, through its US subsidiary GMO-Z.com Trust Company, Inc., has a proven track record in issuing stablecoins on major blockchains such as Ethereum, Stellar, and Solana. The company operates a digital currency management system supporting multiple technological platforms and monitoring features for currency transactions and operations."As stablecoins will inevitably play an important part in financial markets, Nomura and its Digital Asset subsidiary Laser Digital are excited to partner with GMO,” said Kentaro Okuda, the President and Group CEO of Nomura Holdings. “This project has the potential to greatly enhance digital asset accessibility and innovation in the Japanese financial landscape."We’re excited to share the release from our group headquarters, GMO Internet Group, along with Nomura Holdings and Laser Digital. Full details about the press release: https://t.co/l95jvwhLzn#stablecoin pic.twitter.com/uWWK84GU4L— GMO-Z.com Trust Company (@GMOTrust) May 27, 2024The collaboration between Nomura, Laser Digital, and GMO Internet Group will delve into the various aspects of stablecoin issuance, including the creation, redemption, and circulation processes for both JPY and USD stablecoins. Additionally, the partnership aims to introduce a comprehensive service designed to assist companies interested in issuing their own stablecoins. This service will encompass essential elements such as ensuring compliance with regulatory requirements, integrating the necessary blockchain technology, and seamlessly managing backend transactions.“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,” commented Steve Ashley, the Executive Chairman at Laser Digital. "We're excited to explore this project and the ‘stablecoin-as-a-service' solution."Stablecoins, digital assets linked on a 1:1 basis with fiat currencies, merge the stability of traditional money with the benefits of digital technology, facilitating quicker, less expensive, and clearer transactions. Stablecoin-as-a-Service (SCaaS) is a blockchain-based solution that enables businesses and institutions to issue, manage, and transfer their own branded stablecoins without the need for extensive internal research and development.New Hires in Nomura and Laser DigitalEarlier this month, Nomura unveiled plans to double its profits to over $3 billion by the end of the current decade, aiming to refocus resources, particularly within its wholesale division. Meanwhile, the company also hired a new Chief Economist for Developed Markets, hedge fund veteran David Seif. Previously, it had appointed former Deutsche Bank executive, Hemish Shah, as the new Head of EMEA Flow Rates. Additionally, Laser Digital, part of Nomura, further strengthened its leadership by hiring Hideaki Kudo as the new Representative Director and Head of the newly established office in Tokyo. This article was written by Damian Chmiel at www.financemagnates.com.
FieNews 
Nomura Holdings, Inc., a global financial services group, and its digital asset subsidiary, Laser Digital Holdings AG, have announced a strategic partnership with GMO Internet Group, Inc. to explore the issuance of Japanese yen (JPY) and US dollar (USD) stablecoins in Japan.
Nomura and GMO Internet Group Explore Stablecoin Issuance in Japan
This collaboration aims to leverage each company's experience to provide a secure stablecoin solution for the Japanese market. GMO Internet Group, through its US subsidiary GMO-Z.com Trust Company, Inc., has a proven track record in issuing stablecoins on major blockchains such as Ethereum, Stellar, and Solana.
The company operates a digital currency management system supporting multiple technological platforms and monitoring features for currency transactions and operations.
"As stablecoins will inevitably play an important part in financial markets, Nomura and its Digital Asset subsidiary Laser Digital are excited to partner with GMO,” said Kentaro Okuda, the President and Group CEO of Nomura Holdings. “This project has the potential to greatly enhance digital asset accessibility and innovation in the Japanese financial landscape."
We’re excited to share the release from our group headquarters, GMO Internet Group, along with Nomura Holdings and Laser Digital. Full details about the press release: https://t.co/l95jvwhLzn#stablecoin pic.twitter.com/uWWK84GU4L— GMO-Z.com Trust Company (@GMOTrust) May 27, 2024
The collaboration between Nomura, Laser Digital, and GMO Internet Group will delve into the various aspects of stablecoin issuance, including the creation, redemption, and circulation processes for both JPY and USD stablecoins. Additionally, the partnership aims to introduce a comprehensive service designed to assist companies interested in issuing their own stablecoins.
This service will encompass essential elements such as ensuring compliance with regulatory requirements, integrating the necessary blockchain technology, and seamlessly managing backend transactions.
“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,” commented Steve Ashley, the Executive Chairman at Laser Digital. "We're excited to explore this project and the ‘stablecoin-as-a-service' solution."
Stablecoins, digital assets linked on a 1:1 basis with fiat currencies, merge the stability of traditional money with the benefits of digital technology, facilitating quicker, less expensive, and clearer transactions. Stablecoin-as-a-Service (SCaaS) is a blockchain-based solution that enables businesses and institutions to issue, manage, and transfer their own branded stablecoins without the need for extensive internal research and development.
New Hires in Nomura and Laser Digital
Earlier this month, Nomura unveiled plans to double its profits to over $3 billion by the end of the current decade, aiming to refocus resources, particularly within its wholesale division.
Meanwhile, the company also hired a new Chief Economist for Developed Markets, hedge fund veteran David Seif. Previously, it had appointed former Deutsche Bank executive, Hemish Shah, as the new Head of EMEA Flow Rates.
Additionally, Laser Digital, part of Nomura, further strengthened its leadership by hiring Hideaki Kudo as the new Representative Director and Head of the newly established office in Tokyo. This article was written by Damian Chmiel at www.financemagnates.com.
