Circle and Nomura Teaming Up for USDC-Based FX Settlement in Japan
Circle and Nomura Holdings are teaming up to bring USDC-based foreign exchange settlement to Japanese companies, aiming for a launch as early as 2027.
The service will allow Japanese companies to convert yen into USD Coin (USDC), Circle's dollar-pegged stablecoin, for cross-border transactions. This would reduce delays caused by banking hours and time zone differences compared to standard wire transfers, which typically take two to three business days to clear.
Circle already distributes USDC in Japan through its local branch, Circle Japan, in partnership with SBI Holdings. Nomura will manage client onboarding in Japan, handle regulatory requirements, and connect the new platform to existing banking systems.
The deal targets Japan's $440 billion corporate foreign exchange market, which handled $440 billion in daily transactions as of 2025, according to Bank for International Settlements data.