Circle Nomura to Offer Real Time USDC FX Settlement in Japan

Circle Internet Financial, the issuer of the USDC stablecoin, has partnered with Japanese financial giant Nomura to develop a real-time foreign exchange settlement service for corporations in Japan, with a target launch as early as 2027. The collaboration aims to use blockchain technology to eliminate the multiday delays typical of traditional cross-border bank transfers.

The service would allow Japanese companies to convert yen into USDC for near-instantaneous settlement of overseas payments, such as those for trade finance, supplier invoices, and investments. Circle will provide the stablecoin-based payment infrastructure, while Nomura Securities will manage client relationships and navigate Japan's regulatory framework. The goal is to compress settlement times from several business days to minutes, reducing counterparty risk and improving capital efficiency for businesses.

The initiative follows significant regulatory developments in Japan that have created a favorable environment for such projects. The country's Financial Services Agency has approved USDC for corporate use under updated payment rules, making it the first global dollar stablecoin to receive such clearance....