Circle cooperates with Nomura Holdings to launch corporate USDC payment settlement business in Japan

According to CoinDesk, stablecoin issuer Circle and Japanese financial giant Nomura Holdings have announced a partnership. The two sides plan to launch corporate digital asset payment and settlement services in Japan as early as 2027.<br /> According to the cooperation agreement, Japanese companies can exchange yen into USDC through the platform for scenarios such as cross-border supplier payments, fund transfers between overseas affiliated companies, and foreign exchange settlement. The average daily trading volume of Japan's foreign exchange market is as high as US$440 billion, while traditional bank wire transfers usually take 2 to 3 working days to complete settlement. The blockchain solution is expected to significantly shorten this time.<br /> Previously, the Financial Services Agency of Japan had approved the use of USDC in Japanese companies in accordance with updated payment regulations, making it the first global U.S. dollar stablecoin approved to conduct corporate business locally. Circle will operate the network through its local Japanese branch, Circle Japan, which has previously partnered with SBI Holdings on USDC distribution.