First regulated Japanese‌ yen stablecoin GYEN listed on crypto exchange Liquid

Liquid, a Tokyo headquartered bitcoin and cryptocurrency exchange company, today announced the dual listing of GYEN, the first regulated Japanese yen stablecoin, and ZUSD, a U.S. dollar-backed stablecoin.

From March 1st, Liquid will offer seamless conversion of GYEN and JPY via a GYEN/JPY order book that allows traders to convert stablecoin and fiat 1:1 24/7 in real-time. GYEN and JPY will be combined into a single order book; which will optimize liquidity and provide diversified digital fiat options to traders.

Additionally, Liquid will soon offer a synthetic FX pair of USD/JPY via stablecoins. This will unlock synergies with one of the most widely traded forex pairs in the world.

GYEN is a 100% fiat-backed ERC-20 stablecoin developed and issued by GMO-Z.com Trust Company. Japanese Yen that backs GYEN in circulation is held securely in FDIC insured trustee bank accounts. Every token will have a one-to-one reserve balance and can always be redeemed at a 1:1 ratio.

GMO Trust stablecoins allow users to seamlessly trade across Liquid’s high-speed and global network of partner exchanges.

Source: Liquid.com

Via: https://www.cryptoninjas.net

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