Soramitsu Launches Stablecoin Issuance Consulting in Japan, Bringing National‑Scale CBDC Expertise to Domestic Institutions

→ Soramitsu Co., Ltd. (Shibuya, Tokyo; President & CEO: Kazumasa Miyazawa) and Soramitsu CBDC Co., Ltd. (Shibuya, Tokyo; President & CEO: Makoto Takemiya) today announced the launch of consulting and development support services to help Japanese institutions design, build, and operate stablecoin issuance systems that align with Japan’s regulatory framework under the Payment Services Act. The offering extends Soramitsu’s proven experience delivering central bank digital currency (CBDC) and stablecoin infrastructure at national scale to clients in Japan.

Soramitsu has a proven history in this field, having co-developed the blockchain-based digital currency system “Bakong” with the National Bank of Cambodia in October 2020. By the end of 2024, Bakong had achieved rapid growth, reaching 30 million accounts in a country of 17 million people, processing 600 million transactions annually, with transaction value totaling JPY 22.6 trillion, equivalent to 330% of Cambodia’s GDP. Approximately 70% of Bakong’s circulation is USD-denominated stablecoins, which in 2024 alone facilitated 300 million transactions totaling JPY 16.7 trillion.

Following its success in Cambodia, Soramitsu has conducted CBDC pilots with the central banks of Laos, the Solomon Islands, and Papua New Guinea, and developed a blockchain-based savings bond system for the Ministry of Finance of Palau. Soramitsu CBDC is further advancing pilots and proof-of-concept projects with several other countries.

Soramitsu’s Swiss affiliate, Soramitsu Helvetia AG, has developed the SORA Network, leveraging advanced public and permissioned blockchain technologies to enable the issuance of USD-linked stablecoins (Kensetsu USD) and crypto assets (XOR, VAL, PSWAP). The company has a proven track record in developing Web3 systems, including decentralized exchanges such as PolkaSwap, a DEX for Klaytn, and Tonswap, as well as DeFi-enabled wallets such as Fearless Wallet.

Building on this foundation, Soramitsu and Soramitsu CBDC are now launching consulting and technical support services for Japanese enterprises seeking to develop stablecoin issuance systems. At the core of these efforts is Hyperledger Iroha, a permissioned blockchain originally developed by Soramitsu and now maintained by The Linux Foundation. Designed for high-speed and high-throughput environments, Hyperledger Iroha supports transaction finality in under two seconds and processes thousands of transactions per second, making it an ideal platform for CBDC and stablecoin applications.

What the new services include

Regulatory & risk advisory: Requirements mapping under the Payment Services Act; AML/CFT controls; issuance, redemption, and treasury operations design.
Solution architecture: Token models (account- or token-based), settlement flows, wallet UX, and custody integrations.
Implementation & sandboxing: Rapid pilots on Hyperledger Iroha with migration paths to production; performance and failover testing.
Systems integration: Core banking, PSP gateways, JPQR QR-code payment standard, and card/acquirer rails where applicable.
Interoperability (SORA Nexus): A globally scaleable blockchain network built with Hyperledger Iroha, with private data spaces that can be used for regulated assets.
Operations & observability: Key management, monitoring, incident response, and ongoing performance tuning.

Interoperability and cross-borders
Soramitsu will help clients enable low‑cost, near‑instant cross‑border payments. Cambodia’s Bakong system is already interoperable with Japan’s JPQR standard for QR code payments and is connected with payment systems in Malaysia, Thailand, Vietnam, Laos, and China. Future integrations are planned with India, Singapore, and Indonesia, broadening regional settlement options for Japanese businesses.

Availability
Stablecoin issuance consulting and development support services are available immediately in Japan.

About SORAMITSU

SORAMITSU is a Japanese fintech company with expertise in developing blockchain-based solutions for digital asset and identity management. Our mission is to use blockchain to promote innovation to solve pressing societal challenges.

SORAMITSU is the developer of and major contributor to the open-source blockchain platform Hyperledger Iroha, which is tailored for enterprise and public-sector use. Part of the Linux Foundation's Hyperledger Project, the Iroha blockchain's flexible permissions system and scalable, performant architecture suit it to digital asset and identity management in high-traffic, multi-stakeholder environments.

Utilizing blockchain, SORAMITSU developed the Bakong central bank digital currency for the National Bank of Cambodia, a closed-loop payment system for the University of Aizu in Japan, and an identity verification system prototype for Bank Central Asia in Indonesia. We have also conducted proof-of-concept tests for several major Japanese enterprises, and are active contributors to open source projects, such as the SORA cryptoeconomic system, the Polkaswap DEX, the TONSWAP.org DEX, and the DeFi wallet, Fearless Wallet.

Based on these experiences, SORAMITSU aims to deploy cutting-edge technology for stablecoin issuers in Japan and beyond to realize the full market potential of this asset class.

Press Enquiries
Press Contact: Kazumasa Miyazawa, Makoto Takemiya
Email: info@soramitsu.co.jp

Soramitsu Co., Ltd.
Link Square Shinjuku 16F, 5-27-5 Sendagaya,
Shibuya-ku, Tokyo, JAPAN 150-0001
TEL: 050-5526-4670
https://soramitsu.co.jp

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