Circle and Nomura plan to launch a new stablecoin settlement service in Japan, aiming to do so as early as 2027. The partners say the project would let Japanese companies settle foreign currency trades and cross‑border payments almost instantly using blockchain.
According to reporting by Nikkei, Circle will provide payment rails using its U.S. dollar stablecoin, USDC, and related infrastructure. Nomura Securities, one of Japan’s largest financial institutions, will handle local clients and help steer the project through Japanese regulation.
Under the plan, companies would convert yen into USDC stablecoins, send those tokens over a blockchain network, then receive foreign currencies on the other side. The partners want these flows to clear in near real time, rather than taking two or three days via traditional correspondent banks.
Reports suggest that the service will target large corporate payments, including trade finance and overseas investments. By focusing on business users, the firms hope to cut costs and settlement risk on high‑value transactions rather than retail remittances.
Why Circle and Nomura are Moving Now
Circle has already established a presence in Japan through earlier partnerships that brought USDC into compliance with the country’s stablecoin rules. In a 2025 announcement, the company said its goal was to “provide reliable solutions for digital payments, settlements, and treasury operations” in the market.
Nomura, meanwhile, has been testing blockchain for institutional finance, including a pilot for on‑chain Japanese government bond collateral and a stablecoin‑based securities settlement project backed by Japan’s Financial Services Agency. The new settlement plan with Circle builds on that work by shifting from experiments to a path toward commercial use.
The situation is more favorable than it was a few years ago, since Japanese officials now allow certain yen and dollar stablecoins under strict limits. So the corporations have set a target date of 2027 to allow time to update systems, obtain approvals, and engage with corporate clients.
If the project goes ahead, Circle and Nomura would run one of the first major stablecoin services focused on corporate FX settlement in Japan. Nikkei notes that it would also mark the first time a global stablecoin issuer formally enters the Japanese intercompany transaction market.
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