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GMO-Z.com Trust Company Announces the Launch of Stablecoins GYEN and ZUSD on the Solana Network

The world’s first regulated Japanese yen stablecoin, GYEN, and the trusted U.S. dollar stablecoin, ZUSD, are now available on Solana.

NEW YORK, Jan. 23, 2024 /PRNewswire/ — GMO-Z.com Trust Company, Inc. (“GMO Trust”) today launched GYEN, the first regulated Japanese yen (“JPY”) stablecoin, and ZUSD, the trusted U.S. dollar (“USD”) stablecoin, on the Solana network. This integration on the Solana network enables individuals and institutions to conduct seamless and secure transactions within the industry-leading Solana ecosystem.

Leveraging Solana‘s advanced blockchain technology, Solana GYEN and Solana ZUSD are transacted in a lightning-fast execution process while ensuring unparalleled stability and reliability, fulfilling a streamlined fiat-to-crypto gateway experience and bridging the Japanese yen and U.S. dollars with the digital asset field. This launch on Solana also paves the way for users to easily explore its expansive and diverse ecosystem, ranging from payment solutions to creative artistic support, GameFi, and Web3 mobile applications.

GMO Trust plans to provide Solana GYEN and Solana ZUSD on its official website for trading starting February 14.

Quotes:
Ken Nakamura, CEO of GMO-Z.com Trust Company, Inc., said: “The announcement of the first JPY stablecoin and a new USD stablecoin in 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, said: “GMO 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.”

Please note that GYEN and ZUSD will not be offered to Japanese residents due to regulatory restrictions until further notice.

About GMO Internet Group

GMO Internet Group, based in Tokyo, has been 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 online FX trading platform, an Internet bank, a cryptocurrency exchange, a cryptocurrency mining operation, a payment gateway, and regulated stablecoins. GMO Internet Group, Inc. (TSE: 9449) is headquartered in Tokyo, Japan. For more information, please visit https://www.gmo.jp/en/.

About GMO-Z.com Trust Company

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. For more information on GMO-Z.com Trust Company, Inc., visit https://stablecoin.z.com.

Copyright (C) 2024 GMO-Z.com Trust Company, Inc. All Rights Reserved.

SOURCE GMO-Z.com Trust Company, Inc.

Originally published at https://www.prnewswire.com/news-releases/gmo-zcom-trust-company-announces-the-launch-of-stablecoins-gyen-and-zusd-on-the-solana-network-302041346.html
Images courtesy of https://pixabay.com

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