Boston-based stablecoin issuer Circle Internet Financial on Thursday announced a partnership with Japanese financial conglomerate Nomura Holdings to launch a digital asset settlement business. The companies plan to implement a corporate payments service in Japan starting in 2027.
The deal will allow Japanese companies to exchange yen for USDC, Circle’s stablecoin backed by US dollars, according to the announcement first reported by Nikkei. USDC is the second largest dollar-pegged stablecoin in the world, with a market capitalization of $73.8 billion at the time of writing.
The Circle stablecoin token can be used for cross-border payments to suppliers, transfers between overseas subsidiaries, and currency settlements.
The business targets Japan’s import, export and corporate currency markets. Data from the Bank of International Settlements shows that Japan’s foreign exchange market handled $440 billion in daily transactions as of 2025. Standard bank transfers take two to three business days to settle funds between yen and foreign currencies. This blockchain setup can drastically reduce that transfer time.
