Japanese Financial Giant GMO Internet Group Partners with INX Limited to Bring NYDFS Regulated Stablecoins to Retail and Institutional Investors
GMO-Z.com Trust Company has partnered with INX Limited to offer the world's first regulated Japanese yen stablecoin, GYEN. This initiative, targeting both retail and institutional investors, also includes the integration of GMO Trust's USD-backed stablecoin, ZUSD. GMO Trust is a regulated subsidiary of GMO Internet Group, known for its extensive presence in the financial services sector, including Forex trading and cryptocurrency. The partnership aims to attract significant financial firms through compliance and advanced technology. Notably, GYEN and ZUSD will not be available to Japanese residents.
- Partnership with INX Limited enhances GMO's presence in the cryptocurrency market.
- Launch of GYEN establishes a regulated JPY stablecoin, increasing options for investors.
- INX's SEC-registered platform adds credibility and regulatory compliance.
- GYEN and ZUSD will not be accessible to Japanese residents, limiting market reach.
NEW YORK, June 2, 2021 /PRNewswire/ -- GMO-Z.com Trust Company, Inc. ("GMO Trust"), announced today that it has partnered with INX Limited, the owner of regulated cryptocurrency and digital asset exchange platforms, to provide the world's first regulated Japanese yen (JPY) stablecoin, GYEN, to retail and institutional investors through its subsidiary, INX Digital, Inc. ("INX"). INX will also be integrating GMO Trust's USD-backed stablecoin, ZUSD.
GMO Trust is the New York-based, regulated stablecoin subsidiary of Japanese Internet and Financial Services conglomerate GMO Internet Group ("GMO Group"). This represents a heavyweight partner in the financial industry for INX, with GMO Group owning and operating the world's largest retail online FX trading platform by volume, a Japanese regulated Internet bank, a cryptocurrency exchange, a cryptocurrency mining operation and a payment gateway service.
GMO CLICK Securities, Inc., the financial service provider of GMO Group, has been ranked the largest retail forex broker in the world by volume for the majority of the last decade.1 To expand GMO Group's cryptocurrency footprint, GMO Trust was established as a limited purpose trust company regulated in New York and launched the first regulated JPY stablecoin, GYEN, along with ZUSD, a new digital dollar.
INX Limited launched the first SEC-registered digital security IPO for both retail and institutional investors, a first of its kind offering. INX Limited is uniquely positioned to offer retail and institutional investors and traders access to both digital assets and cryptocurrencies through both of its platforms.
"INX is proud to partner with a global financial services powerhouse that is issuing financial-grade stablecoins." Douglas Borthwick, Chief Business Officer at INX said, "GMO has a very synergistic portfolio of businesses that directly align with our institutional customer base, which we are ideally positioned to service on the digital asset side as a US regulated exchange."
"We're now entering into a new era where highly regulated exchanges are preparing to service tier one institutional traders." Ken Nakamura, CEO of GMO Trust said. "We're thrilled to be working with INX, who have built their exchange in accordance with top U.S. regulatory standards. This level of compliance, safety, and technology will attract the largest financial firms to their platform."
*Please note that due to regulatory restrictions, GYEN and ZUSD will not be offered to Japanese residents.
¹Sources: According to the studies by Finance Magnates, 2012-2019 and 2020; https://forex.z.com/hk/en/press/2019/826/; https://www.financemagnates.com/forex/brokers/japanese-gmo-click-securities-breaks-one-trillion-barrier-in-2020/ |
GMO Internet Group and GMO Trust
GMO Internet Group, based in Tokyo, is a global market leader in the Internet infrastructure, Internet finance and the digital asset space since its inception in 1991. It operates the world's largest retail online FX trading platform, an Internet bank, a cryptocurrency exchange, a cryptocurrency mining operation, a payment gateway, and regulated stablecoins. GMO Internet, Inc. (TSE: 9449) is headquartered in Tokyo, Japan. For more information, please visit https://www.gmo.jp/en.
GMO Trust, based in New York, is a Limited Purpose Trust regulated by the New York Department of Financial Services. Issuing the World's First regulated JPY stablecoin "GYEN", GMO Trust also offers a USD stablecoin "ZUSD". GMO Trust is on a mission to bring traditional finance into the digital age with blockchain services. For more information on GMO Trust, please visit https://stablecoin.z.com.
INX Limited
INX aims to provide a regulated trading platform for digital securities, combining traditional market expertise with a novel technology-driven approach. INX is led by an experienced team of business, finance, and blockchain technology experts unified by the vision of redefining the world of capital markets by leveraging blockchain technology and a fully regulated approach. For more information, please visit: https://www.inx.co/.
Press Inquiries
Ryan Graham
JConnelly
TEL: 862-777-4274
Email: RGraham@jconnelly.com
GMO Trust
GMO-Z.com Trust Company, Inc.
Email: pr@gmo-trust.com
INX Limited
Denise Weaver
Pistol & Stamen
Tel: 310-721-6710
Email: dweaver@pistolandstamen.com
Copyright (C) 2021 GMO-Z.com Trust Company, Inc. All Rights Reserved.
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SOURCE GMO Internet Group
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