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Proof of concept is increasingly reinforcing the view that major financial institutions are continuing to test blockchain tools they believe can be integrated within their systems. A development related to this occurred when one of Japan’s giant firms added USDC to its agenda.
Institutions’ Approach to Cryptocurrency
Positioned as an institutional crypto firm, Keyring Network is conducting transfer trials of the wrapped version of the USDC stablecoin for Laser Digital, a subsidiary of the Japanese banking giant Nomura.
According to Keyring’s co-founder Mélodie Lamarque, this move emphasizes the extensive institutional trials being conducted with approved blockchains and crypto assets like stablecoins.
In Lamarque’s statement to The Defiant, she noted that her company facilitated permissioned trading within the Laser Digital ecosystem by leveraging Wrapped USDC and Keyring’s compatibility framework.
Lamarque pointed out that the transfers conducted by Laser Digital were not tested on a trial network but on the main Ethereum network.
This is considered proof of the mentioned company’s real intent to test crypto systems and is seen as an impressive move given the close ties with a well-established company like Nomura.
Why Is This Event Noteworthy?
Nomura Asset Management stands out as one of the companies at the top of the financial system with an AUM of 531 billion dollars, according to the company’s statement.
Even the fact that the company’s step towards cryptocurrencies is being carried out through a subsidiary highlights the growing entry of the crypto asset industry into the world’s largest financial institutions.
Lamarque reiterated her confidence in the moves made, stating that Keyring, a firm specialized in creating compatibility tools for institutions wanting to benefit from smart contracts, is supporting Laser Digital in “rebuilding the bank.”
Keyring has raised a significant amount of 6 million dollars as seed funding for the continuity of this process.
According to Lamarque, the regulatory environment is not converging into a single framework, and she does not see it that way. Lamarque added that such an event would not be logical and stated:
Trying to harmonize international laws will not work.
