Japan’s GMO Internet to Launch Yen-Pegged Stablecoin in 2019

Japanese internet conglomerate GMO Internet Co. Ltd confirmed plans to release a cryptographic stablecoin, Cointelegraph Japan reports Tuesday, Oct. 9, pegged to the Japanese yen.

Japanese internet conglomerate GMO Internet Co. Ltd confirmed plans to release a cryptographic stablecoin, Cointelegraph Japan reports Tuesday, Oct. 9, pegged to the Japanese yen.

GMO, which entered the Japanese cryptocurrency exchange market in May last year, intends to begin issuing tokens, dubbed GMO Japanese Yen (GJY), during the 2019 financial year.

The news marks a further potential player in the yen-pegged stablecoin market, with several other corporations signalling their intentions to launch assets of their own in recent months.

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