GMO Internet will release a stablecoin pegged to the Japanese …

GMO Internet will release a stablecoin pegged to the Japanese ...

GMO Internet to Release Japanese Yen-Pegged Stablecoin

Japanese IT giant GMO Internet is preparing to become yet one stablecoin issuer by issuing its own digital assets, which will be pegged to the yen in 2019 year.

According to what was done in this Tuesday announcement, the company has started preparatory activities for the release of a stablecoin called GMO Japanese Yen (GJY), which will be used in her business for the implementation of payment transactions using blockchain.

GJY will be released to the Asian market in 2019 tax year via Z.com, stock exchange subdivision, formed by GMO within more a large-scale industry penetration program cryptocurrencies.

The firm also said the GJY could be used in own transactions companies because it is an a mining farm operator and recently launched web bank in cooperation with the Aozora banking group, thanks to which in future will be carry out cross-border payments on the blockchain.

Per the last month already several large companies have shown interest in issuing stablecoins, then there are digital currencies that maintain a constant price relatively a specific asset. In July IBM reported, what takes participation in the development of linked to the course dollar USA token on the Stellar protocol. Crypto introduced its own stablecoins last month-stock exchange Gemini, Paxos blockchain startup and Circle payments firm.

GMO Internet will release a stablecoin pegged to the Japanese ...

GMO won’t be the only one either. company, which issued a digital currency pegged to the yen. In mid-September, a large Chinese blockchain fund announced the development of a similar tool.