GMO Internet Plans to Launch Price-Stable, Yen-Pegged Cryptocurrency

[kreslik.news]

Japanese internet conglomerate GMO Internet has announced plans to launch a yen-pegged ‘stablecoin,’ whose value will not be fully affected by crypto market volatility. The Tokyo-based company will, most likely, collaborate with a bank from Japan to develop the price-stable cryptocurrency, which should be issued in early 2019.

Dubbed GMO Japanese YEN (ticker symbol: GJY), GMO aims to create an entire ecosystem for its fiat-pegged stablecoin, with the next step being the foray into the international remittances and payments market.

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The project bears at least a superficial resemblance to Tether (USDT), ... (read more)