Bittime - Japanese financial giant, Nomura Securities, along with its digital assets unit, Laser Digital, announced a collaboration with GMO Internet Group to explore stablecoin issuance in Japan.
Focus on Yen and US Dollar Stablecoins
Through this partnership, the three companies will jointly explore the issuance, exchange and circulation of stablecoins pegged to the fiat currencies of the Japanese Yen and the United States Dollar. This stablecoin is expected to be a bridge between crypto assets and the traditional Japanese financial system.
Check Today's Crypto Market:
Product "Stablecoin as a Service"
In addition to issuing stablecoins, this collaboration also plans to offer "Stablecoin as a Service" (SaaS) products. This SaaS product aims to help other companies issue their own stablecoins. Assistance provided includes regulatory compliance management, blockchain integration, and back-end transaction management.
Division of Roles in Partnership
In this partnership, Nomura and Laser Digital will focus more on activities related to crypto trading, asset management and venture investment. Meanwhile, GMO Internet Group will contribute more to its technological aspects.
Steve Ashley, Executive Chairman of Laser Digital, stated that the development of stablecoins specifically for the Japanese market will be key in expanding the accessibility and adoption of crypto assets in Japan and beyond.
Also Read How to Buy Crypto:
GMO Internet Group: An Old Player in Digital Assets
This collaboration is not GMO Internet Group's first step in the world of digital assets. Previously, GMO's subsidiary in the United States, GMO-Z.com Trust, had issued its own stablecoins, namely GYEN (pegged to the Yen) and ZUSD (pegged to the US Dollar). These stablecoins are issued on various blockchains.
This collaboration between Nomura, Laser Digital, and GMO Internet Group is expected to advance the crypto ecosystem in Japan. Stablecoins pegged to the Yen currency have the potential to increase the stability of crypto transactions and attract more investors to the Japanese market.
Check Crypto Prices Today:
How to Buy Crypto with Bittime
You can buy and sell crypto assets in an easy and safe way through Bittime. Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.
To be able to buy crypto assets on Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.
Monitor price chart movements of Bitcoin (BTC) , Ethereum (ETH) , Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
Also Read:
What are Crypto Stablecoins and How Do They Work?
How are Cryptocurrency Regulations in Japan? What are the Tax Rules?
SBI Holdings Collaborates with Chiliz to Develop Fan Token Ecosystem in Japan
DISCLAIMER: This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
Comments
0 comments
Please sign in to leave a comment.