Crypto: New York approves the first Japanese yen-pegged stablecoin

GMO-Z becomes the 27th company to receive the coveted BitLicense which allows digital currency companies to operate in the state of New York. According to Lacewell, this is part of the NYDFS’ effort to stay at the forefront of innovation. The most recent charter is especially important as stablecoins take on growing significance in the digital currency industry, the Superintendent remarked.

Ken Nakamura, the President and CEO of GMO-Z stated, “We’re breaking ground with our move to issue the first regulated JPY-pegged stablecoin, which many see as a safe haven asset. But we are also pioneers and innovators in this space who envision building new applications of blockchain technology that transform our relationship with traditional financial services.”