Circle and Nomura join forces to target a $440 billion daily foreign exchange market in Japan
The stablecoin giant and the Japanese financial corporation plan to deploy cross-border foreign exchange settlements as early as next year.
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Summary
- Circle and Nomura plan to launch a USDC-based digital asset settlement and corporate payment service in Japan as early as 2027, allowing businesses to swap yen for the dollar-pegged stablecoin.
- The service will target Japan’s sizable import, export and corporate currency markets by using blockchain to cut cross-border and foreign-exchange transfer times from days to minutes.
- The partnership follows Japan’s updated payment rules that cleared USDC for local corporate use, with Nomura overseeing client onboarding, regulatory compliance and integration with existing banking systems.
