INX Limited Partners With Japanese Financial Giant GMO Internet Group To Bring NYDFS Regulated Stablecoins To Retail And Institutional Investors
FX trading goes digital, 24/7 as Yen Stablecoin listed on INX Digital from October 5th
NEW YORK, September 21, 2021 / PRNewswire / – INX Limited (INX), owner of a regulated cryptocurrency exchange and digital security trading platform, has partnered with GMO-Z.com Trust Company, Inc. ( GMO Trust), to list the world’s first regulated Japanese yen stablecoin, GYEN, for retail and institutional investors through its subsidiary, INX Digital, Inc. (“INXD). INXD will also list the back-to-back stablecoin. GMO Trust USD, ZUSD.
FX trading goes digital, 24/7/365
as Yen Stablecoin Lists on INX Digital from October 5
GMO Trust is the new YorkA stable and regulated subsidiary based on financial services and the Japanese Internet conglomerate, GMO Internet Group (GMO Group). GMO Group owns and operates the world’s largest online currency trading platform by volume, a regulated internet bank in Japan, a cryptocurrency exchange, a cryptocurrency mining operation, and a payment gateway service. .
GMO Click Securities, the forex arm of the GMO group, has been ranked the world’s largest forex broker by volume for most of the past decade, with volumes consistently exceeding 1000 billion dollars one month¹. To expand the cryptocurrency footprint of the GMO Group, GMO Trust was established as a regulated limited-purpose trust company in new York and launched GYEN and ZUSD.
Daily currency turnover is approximately complete $ 6.6 trillion per day, with the US dollar against the Japanese yen (USDJPY) being the second most traded currency pair after the euro against the US dollar (EURUSD). The introduction of this Japanese Yen stablecoin on INXD provides an innovative asset class and new trading platform with no closing hours for the millions of retailers and thousands of institutional forex traders to invest and speculate. It also offers corporate clients an innovative and more efficient payment solution backed by the Japanese yen, with instant settlement in digital wallets as opposed to the traditional T + 2 market known for the underlying asset.
GYEN and ZUSD will initially trade against the US Dollar and Bitcoin, with additional pairs added in the future, and unlike traditional forex markets, this digital version will also be open on weekends and holidays!
Stablecoins are already seeing pull as an alternative payment method with the issuance of more than $ 113 billion in stable coins. Earlier in 2021, the Office of Comptroller and Currency, the US federal banking regulator, asserted that banks can use stablecoins to facilitate payments to customers, noting the speed and efficiency of these instruments compared to more traditional payment methods .
“INX is proud to partner with GMO, a global financial services hub that issues financial grade stable coins.” Shy Datika, Founder and CEO of INX, said, “GMO has a very synergistic business portfolio that aligns directly with our customer base, which we are uniquely positioned to serve on the digital asset side as a platform. cryptocurrency regulated in the United States. perspective, daily Bitcoin turnover is around 40 billion dollars, while in USDJPY it is closer to 750 billion dollars. We are very happy to finally be able to bridge the gap between the worlds of FX and cryptocurrency. “
“GMO’s new stablecoins, including the first regulated Japanese yen stable coin GYEN, demonstrate our firm belief that level 1 institutional traders are ready to embrace innovative digital assets,” Ken nakamura, said the CEO of GMO Trust. “We are excited to bring these stablecoins to INX’s industry-leading exchange, which is built to the highest US regulatory standards. Traditional currency brokers are actively exploring digital currencies 24/7 through the use of stable coins. We are confident that the INX platform will attract the largest financial companies with its compliance, security and technology advantages. “
Institutions and corporate treasuries looking to connect and trade GYEN and ZUSD on INXD are able to get on board here.
Retail investors are encouraged to register here.
* Please note that due to regulatory restrictions, GYEN and ZUSD will not be offered to Japanese residents.
GMO Internet Group and GMO Trust
GMO Internet Group, based in Tokyo, has been a global market leader in the internet infrastructure, internet finance and digital asset space since its inception in 1991. It operates the world’s largest online currency trading platform, an internet bank, a cryptocurrency exchange, a cryptocurrency mining operation, a payment gateway, and regulated stablecoins. GMO Internet, Inc. (TSE: 9449) is headquartered at Tokyo, Japan. For more information, please visit https://www.gmo.jp/fr
GMO Trust, based in new York, is a limited purpose trust regulated by the New York Department of Financial Services. Issuing the world’s first regulated Japanese Yen stablecoin, GMO Trust also offers a “ZUSD” USD stablecoin and a suite of stablecoin-as-a-service technology and custody products. GMO Trust’s mission is to bring traditional finance into the digital age with blockchain services. For more information on GMO Trust, please visit https://stablecoin.z.com
INX Limited has launched the first SEC-registered digital security initial public offering (IPO) for retail and institutional investors. INX is uniquely positioned to offer retail and institutional investors and traders access to both digital securities and cryptocurrencies through its two trading platforms.
INX’s vision is to be the preferred global regulated hub for digital assets on the blockchain, providing related technology and services for primary and secondary markets. INX’s overall mission is to bring communities together and empower them through financial innovation. INX’s journey began with its IPO of the INX token and the increase $ 83 million of the IPO and now operates 2 regulated trading platforms for blockchain assets and its cross-industry broker plans to offer undeliverable cryptocurrency transfers to Tier 1 banks in the near future. The INX token has the largest market capitalization of digital securities issued in the United States, with the largest daily volume. The INX token is available for trading, including for Japanese residents, here. INX is shaping the blockchain asset industry through its willingness to work in a regulated environment under the oversight of regulators such as the SEC and FINRA. For more information including the INX token, please visit the INX website here
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