Nomura Holdings and Daiwa Securities are collaborating with three major banks to advance a pilot program for stablecoin-based securities trading.

PANews reported on February 11th that, according to Nikkei, Nomura Holdings and Daiwa Securities Group are collaborating with three major Japanese banks—Mitsubishi UFJ Financial Group, Sumitomo Mitsui Financial Group, and Mizuho Financial Group—to advance a pilot project for stablecoin-based securities trading, aiming to achieve 24/7 real-time settlement on the blockchain. The project plans to convert assets such as stocks, government bonds, corporate bonds, investment trusts, and ETFs into digital securities. After investors place orders through brokerages, transactions will be settled in real-time using a yen-denominated stablecoin jointly issued by the three banks, with asset rights simultaneously transferred to the buyer. The trial is expected to begin as early as this month after notification to financial regulators, and may attract more financial institutions to participate in the future.

The project aims to leverage the tamper-proof nature of blockchain to support 24/7 trading, extend trading hours, and shorten settlement cycles, thereby revitalizing the stock, bond, and investment trust markets. However, implementation still faces compliance and practical challenges in operational processes such as brokerage order verification. The pilot program will focus on identifying and resolving these obstacles.