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On the 23rd, GMO-Z.com Trust Company, Inc., a local subsidiary in the United States, announced the Solana (SOL) lock on the Japanese yen stablecoin “GYEN” and the US dollar stablecoin “ZUSD”. , which complies with US banking laws and regulations. It was announced that the chain would launch and offer the product.
“GYEN” and “ZUSD” are stocks distributed outside of Japan and are not currently approved for sale to residents of Japan.
GMO-Z.com Trust Company, Inc. is a consolidated company of GMO Internet Group, Inc. and the stablecoins “GYEN” and “ZUSD” issued by them are each licensed by the New York State Department of Financial Services (NYDFS). It is a stablecoin that can be used at an exchange rate of 1:1 with fiat currency.
Previously it was offered on Ethereum etc., but in this announcement Kentaro Nakamura, CEO of GMO-Z.com Trust Company, Inc., announced that it was “the first Japanese yen stablecoin in the Solana ecosystem and the new US.” Dollar The launch of the stablecoin service is an important milestone in our multi-chain expansion. We are very excited to announce our long-awaited collaboration with Solana to our users. We look forward to integrating GYEN and ZUSD into many projects within the Solana ecosystem.”
Additionally, Solana blockchain co-founder Raj Gokal said: “GMO Trust’s issuance of a stablecoin on the Solana blockchain is a sign that Solana’s high-performance network and low transaction fees will enable companies to scale.” “We do “It is clear that it is possible to bring regulated financial products onto the market in a regulated manner.”
Solana's on-chain activity has increased again since October 2023, with total monthly stablecoin transfers exceeding $300 billion in January.
🚨 The big breakthrough: Solana surpasses $300 billion in monthly stablecoin transfer volume – an all-time high. pic.twitter.com/HJpp7xMql2
— SolanaFloor | Powered by Step Finance (@SolanaFloor) January 21, 2024
Additionally, GMO Coin handles Solana spot trading.
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