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Nomura Holdings and GMO Group Form Stablecoin Research Partnership in Japan

Nomura Holdings and GMO Group have announced a strategic partnership to research and develop stablecoins. This collaboration aims to explore the potential applications and benefits of stablecoins in enhancing financial services and transactions within Japan.

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Nomura Holdings and GMO Group have announced a strategic partnership to research and develop stablecoins. This collaboration aims to explore the potential applications and benefits of stablecoins in enhancing financial services and transactions within Japan.

Nomura Holdings, one of Japan’s leading financial services groups, and GMO Group, a prominent player in the internet infrastructure and financial services industries, will leverage their combined expertise to delve into the evolving landscape of digital currencies. The partnership will focus on understanding the regulatory environment, technological requirements, and market opportunities for stablecoins in the Japanese economy.

Stablecoins, digital currencies pegged to stable assets such as fiat currencies, have gained significant attention globally for their potential to reduce volatility in cryptocurrency markets and facilitate seamless transactions. The research by Nomura and GMO is expected to contribute valuable insights into how stablecoins can be effectively integrated into existing financial systems.

This initiative aligns with Japan’s broader efforts to embrace financial innovation and digital transformation. Both companies have expressed optimism about the partnership’s potential to drive advancements in financial technology and provide enhanced services to their customers.

The collaboration will also address the regulatory challenges associated with stablecoins, ensuring compliance with Japan’s financial regulations and promoting a secure and transparent digital currency ecosystem. By proactively engaging with regulators and stakeholders, Nomura and GMO aim to set a benchmark for stablecoin adoption and utilization in Japan.

As the partnership progresses, the findings and developments from this research are anticipated to play a crucial role in shaping the future of digital finance in Japan. The collaboration between Nomura Holdings and GMO Group marks a pivotal step towards integrating stablecoins into mainstream financial services, potentially setting the stage for broader adoption and innovation in the sector.

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7-Eleven South Korea to accept CBDC payments in national pilot program

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7-Eleven is set to participate in the testing phase of a central bank digital currency (CBDC) initiative, running from April to June. The retail giant’s involvement highlights the growing push for digital currency integration in everyday transactions.

The pilot program will assess the feasibility of CBDC payments at 7-Eleven stores, allowing customers to make purchases using the digital currency. The initiative is part of a broader effort to explore the real-world application of CBDCs in retail environments, potentially shaping future payment systems.

As central banks worldwide accelerate their digital currency research, private sector collaboration is seen as crucial for widespread adoption. If successful, 7-Eleven’s participation could pave the way for broader CBDC usage across retail and commercial sectors.

The outcome of the testing phase will provide valuable insights into consumer adoption, transaction efficiency, and potential regulatory considerations, influencing how CBDCs are integrated into mainstream financial systems.

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SEC and Gemini ask to pause lawsuit to explore ‘potential resolution’

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The U.S. Securities and Exchange Commission (SEC) and crypto exchange Gemini have agreed to pause legal proceedings as both sides explore a potential resolution to their ongoing lawsuit. The move signals a possible settlement in the high-profile case, which centers around Gemini’s now-defunct Earn program.

The SEC initially sued Gemini, alleging that the Earn program—designed to offer users yield on crypto deposits—operated as an unregistered securities offering. Gemini has pushed back against the claims, arguing that its operations complied with regulatory standards.

By pausing litigation, both parties may be looking for a compromise that could set a precedent for crypto lending products in the U.S. A settlement could also provide regulatory clarity for similar platforms navigating SEC scrutiny.

While the outcome remains uncertain, the crypto industry is closely watching the case, as its resolution could impact future enforcement actions and the broader regulatory approach toward digital asset lending services.

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GameStop finishes $1.5B raise to add Bitcoin to its balance sheet

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GameStop has successfully completed a debt offering, raising capital that may be used to acquire Bitcoin, signaling the company’s deeper foray into digital assets. The move aligns with its broader strategy to diversify beyond traditional retail operations and into emerging financial technologies.

While GameStop has not confirmed the exact allocation of the funds, market speculation suggests that a portion could be used to buy Bitcoin, following in the footsteps of companies like MicroStrategy. The potential investment would reinforce GameStop’s ongoing pivot toward blockchain and digital assets, an effort that began with its NFT marketplace and crypto-related initiatives.

Analysts see this development as part of a growing trend of corporations exploring Bitcoin as a reserve asset amid concerns over inflation and monetary policy. If GameStop proceeds with the acquisition, it could further validate Bitcoin’s role as a strategic investment for publicly traded companies.

The company’s board will ultimately decide how the newly raised capital is deployed. Investors and the broader crypto market are watching closely for any official announcements regarding GameStop’s Bitcoin strategy.

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