The First Regulated JPY-pegged Stablecoin, GYEN
Building Technology for Financial Mobility
We are excited to announce that GYEN, which is the first regulated JPY-pegged stablecoin, and ZUSD, a new USD-pegged stablecoin, are coming soon. Both GYEN and ZUSD are 100% fiat-backed at partner banks and custodians in the U.S. and are always redeemable 1:1.
GMO-Z.com Trust Company (“GMO Trust”) has been granted a limited purpose trust charter by the New York Department of Financial Services in December 2020 to issue and offer stablecoins. As part of an established, globally-renowned financial institution approved and overseen by the regulator, we are ready to build technology for financial mobility with the mission to digitize the world’s most popular currencies and discover new applications of blockchain to bridge the gap between traditional finance and digital assets.
Who are we?
Before talking about ourselves, we have to introduce our parent organization. GMO Internet Group, based in Tokyo, is a global market leader in the Internet infrastructure, Internet finance, and digital asset space since its inception in 1991. It operates the world’s largest online FX trading platform in volume, an Internet bank, a cryptocurrency exchange, a cryptocurrency mining operation, a payment gateway, and a regulated stablecoin service. GMO Internet, Inc. (TSE: 9449) is the parent company of the 100 group companies located across 21 countries as of September 2020. Since 2018, GMO Internet, Inc. has started the research and development of issuing the JPY-pegged stablecoin.
Going through the regulatory approval process and development, GMO Trust was founded as a limited purpose trust company on 29th December 2020, regulated by the New York Department of Financial Services. We have employed rigorous policies, regulatory oversight, and security standards to help ensure that our digital assets share the same robust frameworks and time-tested guardrails inherent to traditional assets. Our mission is to bring traditional finance into the digital age with blockchain services.
What are GYEN and ZUSD?
GYEN and ZUSD are 100% fiat-backed ERC-20 stablecoins developed and issued by GMO Trust. All Japanese Yen and U.S. Dollar that back GYEN and ZUSD in circulation are held securely in FDIC insured trustee bank accounts. Every token will have a one-to-one reserve balance and can always be redeemed 1:1 with the underlying fiat currencies.
Where can I get GYEN and ZUSD?
GMO Trust customers from eligible regions will be able to purchase GYEN and ZUSD on Stablecoin.z.com after completion of our KYC program (Coming Soon). We are also expanding our partnerships network with exchanges that operate globally, which allows you to trade GYEN and ZUSD with your familiar digital assets anywhere in the world.
How do I keep my GYEN and ZUSD?
You will need a wallet that supports ERC-20 tokens to store your GYEN and ZUSD.
Where can I use my GYEN and ZUSD?
Like with any other internet and financial services that GMO Internet Group has been providing for decades, we encourage our customers to explore the possibilities and applications of GYEN and ZUSD.
Our stablecoins will allow you to seamlessly trade across our high-speed, global network of partner exchanges. You will be able to hedge volatility and experience digital fiat trading with ease through our partnered platforms. You can also enjoy noticeably faster counterparty settlement with a near-instant settlement process across our partnered settlement networks.
We are continuously expanding our partnerships to enrich the ecosystem of GYEN and ZUSD, so stay tuned!