Japan’s leading financial firms Nomura and Daiwa Securities, in collaboration with the country’s three largest banks, have announced the introduction of an advanced stablecoin-based system for trading stocks, bonds, and other assets. This stablecoin, pegged to the local currency, will be issued through the joint efforts of Mitsubishi UFJ Asset Management, Sumitomo Mitsui, and Mizuho Bank, enabling 24-hour securities trading. The initiative aims to enhance the use of technology in Japan’s financial markets and modernize the traditional financial system. The stablecoin platform is expected to accelerate trading processes, provide investors with more flexible and continuous market access, and improve transparency and security standards in financial transactions. The system is currently undergoing registration with financial authorities, with plans to expand to additional financial institutions following initial pilot programs. This move is anticipated to increase the significance of digital currencies in Japan’s financial market and offer guidance to other countries on digital asset utilization. It represents a significant step toward digitalization in Japan’s financial industry, potentially transforming banking and investment practices, while also emphasizing the need for strengthened financial oversight, risk management, and compliance with cryptocurrency regulations to maintain market stability.
Source: binance
