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    Japan’s GMO Internet To Issue Yen-Pegged Stablecoin

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    Paul Hackley
    Japanese company GMO Internet Co., Ltd. revealed its intentions to launch a yen-pegged stablecoin in 2019. GMO's main concern is to target international remittances
    Tue, 9/10/2018 - 17:07
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    Japan’s GMO Internet To Issue Yen-Pegged Stablecoin
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    On Tuesday, Oct. 9, Japanese internet company GMO Internet Co., Ltd. revealed its intentions to launch a yen-pegged stablecoin in 2019.

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    GMO, which has recently entered the Japanese cryptocurrency exchange market, will compete with several other companies intending to launch the same asset. The main concern of GMO in issuing a stablecoin is to target international remittances.

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    “The yen-pegged currency collateralized by the Japanese yen is highly likely to be an ideal currency that combines high creditworthiness, low fees and speed of remittance,” the company stated. “By issuing the yen-pegged currency, GMO Internet will continue to support borderless transactions with creditworthiness.”

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    Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

    About the author
    article image
    Paul Hackley

    Paul Hackley is a journalist and essayist, focusing on blockchain and cryptocurrencies, with a strong interest in the future of the technology.

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