Circle and Nomura join forces to target a $440 billion daily foreign exchange market in Japan
CoinDesk 2026-06-25 12:29:21
Context: Circle Internet Financial, a Boston-based stablecoin issuer, has partnered with Japanese financial conglomerate Nomura Holdings to launch a digital asset settlement business in Japan, targeting the country's sizable import, export, and corporate currency markets. The partnership aims to utilize blockchain technology to cut cross-border and foreign-exchange transfer times from days to minutes. The service is expected to launch as early as 2027.
Key Facts
- Circle and Nomura plan to launch a USDC-based digital asset settlement and corporate payment service in Japan, allowing businesses to swap yen for the dollar-pegged stablecoin USDC.
- The service will target Japan's import, export, and corporate currency markets, which handle $440 billion in daily transactions, according to Bank for International Settlements data as of 2025.
- Nomura will oversee client onboarding, regulatory compliance, and integration with existing banking systems in Japan, while Circle operates the network through its local branch, Circle Japan.
- The partnership follows Japan's updated payment rules that cleared USDC for local corporate use, making it the first global dollar stablecoin allowed for local corporate use.
- The Circle-Nomura deal aims to drastically reduce cross-border transfer times from two to three business days to minutes, using blockchain technology to facilitate faster and lower-cost transactions.