Home Cryptocurrency News Asia Cryptocurrency Titans, GMO Internet Group and Liquid, Partner to Create the First Synthetic JPY FX Instruments

Asia Cryptocurrency Titans, GMO Internet Group and Liquid, Partner to Create the First Synthetic JPY FX Instruments

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NEW YORK, March 3, 2021 /PRNewswire/ — GMO-Z.com Belief Firm, Inc. (“GMO Belief”), the New York-based, regulated stablecoin subsidiary of Japanese monetary companies and web conglomerate GMO Web Group, and Liquid (“Quoine Pte. Ltd.”), one of many world’s largest cryptocurrency-fiat change platforms (ranked among the many high 10 regulated cryptocurrency exchanges globally), as we speak introduced its partnership to convey “GYEN,” the world’s first regulated Japanese yen (JPY) stablecoin, and U.S. greenback (USD) stablecoin “ZUSD” to Liquid’s change to create the primary artificial, absolutely digital USD/JPY pair.

Regulated Stablecoin Clearinghouse for World’s First Artificial, Digital USD/JPY Pair

Liquid is ready to launch a brand new clearinghouse for regulated, world fiat-backed stablecoins to assist rising demand for stablecoin swaps, FX buying and selling, and growth of digital fiat onramps/offramps. Buying and selling pairs that includes stablecoins and different well-liked tokens akin to Bitcoin (BTC) and Ethereum (ETH) have elevated dramatically in reputation this 12 months, nonetheless, the market is lacking a clearinghouse to simply swap between stablecoins backed by main world currencies. As two of the biggest digital asset corporations within the Asia-Pacific (APAC) area, Liquid has entered a strategic partnership to leverage GMO Belief’s regulated, financial-grade GYEN and ZUSD stablecoins to create the primary artificial, digital USD/JPY pair, the second most-traded foreign exchange pair on the planet.

Combining into Single Order Guide:
Liquid positioning GYEN with the identical standing as JPY fiat

Liquid at the moment has the biggest BTC/JPY market globally, constantly averaging $300 million in quantity each 24 hours. Given the demand within the market for a digital model of JPY, the change has determined to mix its BTC order e-book with GYEN/JPY, which can optimize liquidity and supply a totally digital solution to entry this market. Customers depositing GYEN on Liquid’s change shall be credited 1:1 with JPY. This gives vital potential to attach native merchants who leverage JPY with world cryptocurrency merchants. Learn more here about GYEN and ZUSD itemizing on Liquid.


“Liquid acknowledges that till now, there has not been a regulated, fiat-backed digital model of JPY, which is our high fiat market,” stated Seth Melamed, COO of Liquid. “Unifying our BTC/JPY order books with GYEN is ready to extend world participation and liquidity, with merchants having fun with the velocity and effectivity supplied by improved digital fiat choices.”

Marisa McKnight, Head of Associate Options at Liquid, commented “Making a market to actively commerce regulated stablecoins brings us nearer to capturing a purely digital model of FX, which gives new alternatives to our buying and selling companions.”

“Our partnership with Liquid integrates GYEN into the biggest BTC/JPY liquidity pool within the area, offering unbelievable depth to this market,” stated Ken Nakamura, President and CEO of GMO-Z.com Belief Firm, Inc. “We’re excited to broaden the digital asset market with financial-grade stablecoins, whereas additionally having them be seamlessly traded with different digital currencies.”

Please observe that resulting from regulatory restrictions, GYEN and ZUSD won’t be supplied to Japanese residents.

About GMO Web Group and GMO Belief

GMO Web Group, based mostly in Tokyo, is a world market chief within the Web infrastructure, Web finance, and the digital asset area since its inception in 1991. It operates the world’s largest on-line FX buying and selling platform, an Web financial institution, a cryptocurrency change, a cryptocurrency mining operation, a fee gateway, and a regulated stablecoin.  Mother or father firm GMO Web, Inc. (TSE: 9449) is headquartered in Tokyo, Japan. For extra info, please go to https://www.gmo.jp/en/.

GMO Belief, based mostly in New York, is a restricted objective belief firm, regulated by the New York Division of Monetary Companies. Issuing the world’s first regulated JPY stablecoin “GYEN,” GMO Belief additionally gives a USD stablecoin “ZUSD.” GMO-Z.com Belief Firm is on a mission to convey conventional finance into the digital age with blockchain companies. For extra info on GMO-Z.com Belief Firm, Inc., go to https://stablecoin.z.com/.

About Liquid

Based in 2014, Liquid is without doubt one of the world’s largest cryptocurrency-fiat change platforms serving hundreds of thousands of shoppers worldwide. Liquid is constantly ranked among the many high 10 regulated cryptocurrency exchanges globally based mostly on each day traded spot quantity with deep BTC/JPY liquidity, providing among the best person experiences in service ranges & safety within the business. Liquid proudly serves its clients from all world wide. Since we hit our first milestone of 100,000 customers on 08 December 2017, we now have continued to develop ever since.  For extra info on Liquid, go to https://www.liquid.com/.

Press Inquiries
Ryan Graham
TEL: 862-777-4274
E-mail: [email protected]

GMO Belief
GMO-Z.com Belief Firm, Inc.
E-mail: [email protected]

Marisa McKnight
E-mail: [email protected]

Copyright (C) 2021 GMO-Z.com Belief Firm, Inc. All Rights Reserved.


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