Nomura, GMO Team Up for Yen-Dollar Stablecoins, Expanding Stablecoin Ecosystem
CryptoNewsTerminal Staff27 May, 2024
Nomura, GMO Team Up for Yen-Dollar Stablecoins, Expanding Stablecoin Ecosystem
Japan's financial giant Nomura Holdings has embarked on a partnership with GMO, a leading IT firm, to venture into the issuance of stablecoins pegged to the Japanese yen and the US dollar. The alliance aims to explore the realms of stablecoin issuance, redemption, circulation, and the development of a service-oriented stablecoin product. Nomura's subsidiary, Laser Digital, will spearhead efforts in cryptocurrency trading, asset management, and venture investments, while GMO's expertise will primarily drive the technological aspects of the project. This strategic partnership signifies Nomura's commitment to the evolving digital asset landscape and its potential to transform financial transactions.
