The world's first regulated Japanese yen stablecoin, GYEN, and U.S. dollar stablecoin, ZUSD, to launch on Solana.
23 June, 2024 - GMO-Z.com Trust Company, Inc. ("GMO Trust"), today announced the launch of GYEN and ZUSD stablecoins on the Solana network. GYEN is recognised as the world's first regulated Japanese yen (JPY) stablecoin, and ZUSD is a widely trusted U.S. dollar (USD) stablecoin. This pivotal integration with Solana provides a secure and swift transaction environment for both individual and institutional participants within Solana's robust ecosystem.
Harnessing the speed and advanced technology of Solana's blockchain, GYEN and ZUSD offer rapid transaction execution alongside steadfast stability and reliability. This development enhances the fiat-to-crypto gateway, facilitating a seamless transition between JPY and USD to digital assets. With the Solana launch, users gain easy access to its range of offerings, including innovative payment systems, support for creative endeavours, GameFi, and Web3 applications.
GMO Trust is set to enable trading of Solana GYEN and Solana ZUSD on its official website starting February 14.
Ken Nakamura, CEO of GMO-Z.com Trust Company
Ken Nakamura, CEO of GMO-Z.com Trust Company, commented, "The announcement of the first JPY stablecoin and a new USD stablecoinin the Solana ecosystem marks an important milestone in our multi-chain development, and we are very pleased to unveil this long-awaited Solana integration to our users. We look forward to integrating GYEN and ZUSD with the numerous projects in the Solana ecosystem."
Raj Gokal, Co-Founder of Solana, commented, "TGMO Trust's issuance of stablecoins on the Solana blockchain highlights how Solana's high-performance network and low transaction fees enable companies to launch regulated financial products in a scalable manner."
GYEN and ZUSD will initially not be available to residents of Japan due to regulatory considerations, with updates to follow as regulations evolve.
GMO Internet Group, headquartered in Tokyo operates the largest online FX trading platform globally, an Internet bank, a digital currency exchange, a crypto mining operation, a payment service, and regulated stablecoins.
GMO-Z.com Trust Company, based in New York, is a Limited-Purpose Trust Company, regulated by the New York Department of Financial Services. Issuing the world's first regulated JPY stablecoin, "GYEN," GMO-Z.com Trust also offers a USD stablecoin, "ZUSD." GMO-Z.com Trust is on a mission to bring traditional finance into the digital age with blockchain services. Visit https://stablecoin.z.com for more information.
LiquidityFinder was created to take the friction out of the process of sourcing Business to Business (B2B) liquidity; to become the central reference point for liquidity in OTC electronic markets, and the means to access them. Our mission is to provide streamlined modern solutions and share valuable insight and knowledge that benefit our users.
If you would like to contribute to our website or wish to contact us, please click here or you can email us directly at email@example.com.