Circle and Nomura Target 2027 Launch for Japan Stablecoin FX Service; USDC Market Cap Hits $73.8B

According to reports, Circle and Nomura are targeting a 2027 launch for a stablecoin foreign exchange settlement service in Japan. The service would enable Japanese companies to convert yen into dollar-denominated stablecoins for cross-border payments and near-instant settlement. Circle's USDC, the second-largest stablecoin with a market capitalization of $73.8 billion, would support the initiative, leveraging Nomura's institutional client base and market position in Japan.
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