New York licenses GMO Internet to issue the first JPY-pegged stablecoin – TechCrunch

The New York Department of Financial Services (NYDFS) has Tokyo-based GMO approves internet To launch GYEN, the first stable currency was pegged to the Japanese Yen.

Gmo internet, Establishment of GMO-Z.com Trust Company (GMO Trust) to issue GYEN and ZUSD, an Internet group that offers a large array of domain hosting, online advertising and services, which is the world’s largest foreign exchange trading platform Will do. A USD-pegged constant currency. Both will start selling outside of Japan next month.

In a press announcement, GMO Trust stated that it had formed a strategic partnership with global digital asset exchanges to ensure the liquidity of virtual currencies. Started developing GYEN in 2018.

GMO joins the trust Two dozen other companies Virtual currency licenses have been obtained from NYSDFS, also known as bitclines. BitLicenses, which took effect in June 2015, are Virtual currency is required to engage in trading activities in New York. Other companies in Asia that hold BitLicenses include Bitcoin of Japan, a bitcoin exchange, and Hong Kong-based digital wallet Xapo.