GMO Internet Inc Receives Approval for First Ever JPY-Pegged Stablecoin

GMO Internet Inc Receives Approval for First Ever JPY-Pegged Stablecoin
Last Updated: 29 December 2020
GMO Internet Inc, a group self-described as Japan’s “internet service industry leader, developing and operating Japan’s most widely used domain, hosting & cloud, ecommerce, security, and payment solutions,” has gotten the approval of the New York Department of Financial Services to “establish a limited purpose trust company,” according to a press release from both groups.
This trust will be called the GMO-Z Trust Company, Inc., and it will “issue the world’s first regulated JPY-pegged stablecoin.”
Sharing some thoughts on the matter is Ken Nakamura, President and CEO of GMO-Z.com Trust Company, Inc, who said:

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