Market Chatter: Circle Internet Group, Nomura Target 2027 Launch of Stablecoin FX Settlement Service in Japan

MT Newswires Live06-25 19:06

Circle Internet Group (CRCL), the company behind the USDC stablecoin, is reportedly planning to work with Nomura (NMR) to launch instant foreign-exchange settlement services for Japanese businesses as early as 2027, Nikkei Asia reported Thursday.

The offering would enable businesses to exchange yen for dollar-denominated stablecoins and settle international transactions within minutes, compared with the current half-day settlement timeframe, according to the report.

The initiative would mark the first entry by a major stablecoin issuer into Japan's corporate payments market and aims to improve capital efficiency and support cross-border trade and investment, the report added.

Circle Internet and Nomura did not immediately respond to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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