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 roll out a business payments service in Japan as early as 2027.
The deal will allow Japanese companies to exchange yen for USDC, Circle’s stablecoin backed by the U.S. dollar, 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 supplier payments, transfers between foreign subsidiaries and foreign currency settlements.
The company targets the Japanese import, export and corporate foreign exchange markets. Data from the Bank for International Settlements shows that Japan’s foreign exchange market processed $440 billion in daily transactions in 2025. Standard bank transfers take two to three business days to clear funds between the yen and foreign currencies. This blockchain configuration can significantly reduce this transfer time.
