Open Demo Account
Home / Market Update / Cryptocurrency / New York Authorizes JPY-Backed Stablecoin

New York Authorizes JPY-Backed Stablecoin

M. Ali 29 December, 2020 10:58 pm Cryptocurrency, Market Update

New York has authorized a stablecoin backed by the Japanese Yen (JPY) to operate in the United States, the Coin Telegraph reported.

The stablecoin is run by the Japanese firm GMO-Z.com.

“We’re breaking ground with our move to issue the first regulated JPY-pegged stablecoin, which many see as a safe haven asset,” said GMO president and CEO Ken Nakamura.

Tags

Check Also

US Treasury Secretary: It’s up to Fed to decide on rates, Powell replacement discussions set for fall

U.S. Treasury Secretary Scott Bessent emphasized that interest rate decisions rest with the Federal Reserve, …

This site contains information and opinions for the purpose of providing only general information and can not be relied upon. The information and opinions contained in this Site shall in no way constitute an offer or solicitation to buy, sell or subscribe to any investment product. Users of this site shall bear any risks arising from the use of any information, opinion, program, service or material. Noor Trends reserves the right to make any change to the Site, the information, opinions, materials, products, programs, services or prices (if any) at any time without notice.
All copyrights reserved Noor Trends