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GYEN and ZUSD are the regulated JPY stablecoin and USD stablecoin approved by the New York State Department of Financial Services (NYDFS) and are 1:1 backed stablecoins with assets held at FDIC-insured banks.
March 6, 2023 - GMO-Z.com Trust Company, announced a partnership with Komainu, a regulated digital asset custody service provider built by institutions for institutions, to offer secure and compliant custody services for GYEN and ZUSD, the regulated Japanese yen ("JPY") stablecoin and the U.S. Dollar ("USD") stablecoin.
As a regulated, institutional-grade digital asset custodian, Komainu provides the same safeguards and protections that investors are accustomed to in traditional finance. This partnership enables institutional clients to leverage the regulated stablecoins ecosystem under the highest standard of compliant custody framework to consolidate and interact with digital assets.
Ken Nakamura, CEO of GMO-Z.com Trust Company, Inc., said: "Komainu provides more than just a secure custody service - their comprehensive legal compliance and the flexibility of easy access are incomparable. We believe bridging the regulated JPY and USD stablecoins with the most advanced compliant custody solutions will pave an innovative way for institutional clients to explore leveraging digital assets. We are particularly excited to collaborate with a company with shared Japanese heritage and hope that this will develop our respective franchises in the APAC region as well as globally."
Darren Jordan, Head of Sales of Komainu, said: c"This was a logical partnership given that we are a regulated entity with Japanese roots. Our institutional-grade hybrid wallet infrastructure allows us to support one of the widest blockchain and token offerings in the market and we are particularly excited about increasing stablecoin demand with a lot of opportunities outside of USD stablecoins in particular."
