GMO-Z.com Trust Company has successfully launched GYEN and ZUSD on the Solana network, providing businesses and consumers with a secure and efficient platform for transactions within the Solana ecosystem. GYEN stands as the first certified Japanese yen (JPY) stablecoin, while ZUSD is an established US dollar (USD) stablecoin. Leveraging Solana’s cutting-edge blockchain technology ensures swift and reliable transactions, fostering a seamless connection between fiat currencies and the digital asset realm.
The integration enables a focused entry point from fiat to cryptocurrency, bridging the Japanese yen and the US dollar with digital assets. Users can explore a diverse ecosystem, including Web3 and GameFi mobile applications, creative financing, and payment-related services.
GMO Trust plans to launch the trading platform for Solana GYEN and Solana ZUSD on February 14, 2024. This marks a significant milestone, according to GMO-Z.com Trust Company Inc. CEO Ken Nakamura, as the Solana ecosystem welcomes its first JYP stablecoin and a new USD stablecoin. The company envisions further integration of GYEN and ZUSD into various Solana ecosystem projects in the near future.
Raj Gokal, co-founder of Solana, highlights the release of stablecoins by GMO Trust on the Solana blockchain as evidence of the network’s capability to support certified financial products that can be upgraded.
It’s important to note that, at this time, Japanese citizens do not have access to GYEN and ZUSD. With a legacy dating back to 1991, GMO Internet Group has been a key player in the digital industry, internet infrastructure, and online finance, with headquarters in Tokyo. Apart from managing an online bank and the largest online FX trading platform, the corporation oversees a cryptocurrency exchange, payment gateway, certified stablecoins, and a mining infrastructure.
GMO-Z.com Trust Company, headquartered in New York, has received certification from the New York Department of Financial Services, recognizing it as the entity that introduced the first certified JPY stablecoin.