The stablecoin issuer and Japanese financial group are aiming to introduce cross-border FX settlement services as early as next year, laying the groundwork for a broader corporate payments rollout by 2027.

Circle Internet Financial said on Thursday it has partnered with Nomura Holdings to develop a digital asset settlement platform in Japan, with a corporate payment service targeted for launch in 2027.

Under the agreement, Japanese firms will be able to convert yen into USDC, Circle’s U.S. dollar–pegged stablecoin, according to the announcement first reported by Nikkei. USDC is the second-largest dollar-backed stablecoin globally, with a market capitalization of about $73.8 billion.

The system is designed to support use cases such as cross-border supplier payments, transfers between overseas subsidiaries, and foreign exchange settlement.

The initiative targets Japan’s import-export and corporate FX market, which processes roughly $440 billion in daily turnover, according to Bank for International Settlements data. Compared with traditional bank transfers that can take two to three business days, the blockchain-based model aims to significantly shorten settlement times.

The move comes after regulatory progress in Japan, where the Financial Services Agency approved USDC under updated payment rules, making it the first global dollar stablecoin cleared for domestic corporate use. Circle already operates in the country through Circle Japan, which works with SBI Holdings on distribution.

Nomura will handle client onboarding, ensure regulatory compliance, and integrate the platform into Japan’s existing banking systems.

Over the coming year, the partners plan to finalize infrastructure, strengthen custody arrangements, and complete banking integrations ahead of the planned 2027 rollout.