NEW YORK, December 29, 2020 / PRNewswire / – GMO Internet Inc., the TokyoThe New York-based internet conglomerate has received approval from the New York Department of the Treasury to establish a limited liability trust company, GMO-Z.com Trust Company, Inc. (“GMO Trust”), and the world’s first regulated JPY-linked stablecoin output (ticker: GYEN).

To gain approval for the trust, the company had to meet stringent requirements for its cybersecurity programs, as well as meet federal anti-money laundering and economic sanctions standards. The approval enables the company to launch both JPY-linked stablecoin (ticker: GYEN) and USD-linked stablecoin (ticker: ZUSD). Both GYEN and ZUSD can be purchased and redeemed directly from GMO Trust. In addition, GMO Trust has entered into a strategic partnership with global digital asset exchanges to improve token accessibility and liquidity.

There are currently other regulated stablecoins available, but none are JPY pegged. Hence, GMO Trust will …

.



Source link

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.