New Project: Stablecoin Research from Japanese Giants
Date: 2024-06-03 Author: Henry Casey Categories: BLOCKCHAIN
Japanese bank Nomura and GMO Internet Group are joining forces to launch a stablecoin research project, aiming to explore their potential in the financial sector.
The project includes Nomura's digital assets subsidiary Laser Digital and GMO-Z.com Trust Company, also a subsidiary of GMO Internet Group. GMO-Z is licensed by the New York State Department of Financial Services (NYDFS) and issues stablecoins on various blockchains.
Project Goals
The main goal of the project is to study the process of issuing and redeeming stablecoins to facilitate debt repayment procedures. The concept of “stablecoin as a service” involves compliance with regulations, implementation of blockchain technology in financial transactions and efficient management of internal transactions.
Participants' comments
Laser Digital Chairman, Steve Ashley, expressed confidence that the development of digital assets and the creation of stablecoins for use in the Japanese market will significantly expand access to crypto assets domestically and internationally. Nomura intends to leverage its infrastructure and expertise in digital assets to achieve this goal.
Last year, Laser Digital received a license from Dubai regulators, allowing it to provide virtual asset broker-dealer services to local residents.
