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 business payment service in Japan as early as 2027.
The deal will let Japanese companies exchange yen for USDC, Circle’s US dollar-backed stablecoin, according to the announcement, which was first reported by Nikkei. USDC is the world’s second largest dollar-pegged stablecoin, with a market cap of $73.8 billion at the time of writing.
The Circle stablecoin token can be used for cross-border supplier payments, transfers between overseas affiliates and foreign exchange settlements.
The company targets Japan’s import, export and corporate foreign exchange markets. Data from the Bank for International Settlements shows that Japan’s foreign exchange market handled $440 billion in daily transactions as of 2025. Standard wire transfers take two to three business days to clear funds between yen and foreign currency. This blockchain setup can reduce this transfer time drastically.
