Japanese tech and online finance group GMO gets approval from New York Department of Financial Services to issue yen-pegged stablecoin

Rhythm BlockBeats news, according to Coindesk, recently, the New York Department of Financial Services (New York Department of Financial Services) issued a certificate to GMO-Z.com trust company (GMO-Z.com trust company) A trust charter that allows it to "issue, manage and redeem" dollar-pegged yen and stablecoins in New York.

It is understood that this yen-linked stablecoin is open to the public, and the issuance of the stablecoin Coin's GMO Corporation, a Tokyo-based Internet group, claims to be the world's largest online foreign exchange trading platform. “We are launching the first-ever offering of a regulated stablecoin pegged to the Japanese yen, which many consider a safe-haven asset,” Ken Nakamura, the company’s president and CEO, said in a statement.

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