New York approves USD and JPY-backed stablecoins

New York approves USD and JPY-backed stablecoins
фото показано с : invezz.com

2020-12-30 12:57

The State of New York is well-known in the crypto world for being extremely strict about cryptocurrencies and crypto businesses alike. It has its own Bitlicense that businesses have to own to be allowed to operate within the state in the first place.

This is why its Department of Financial Services’ decision to authorize GMO-z.com Trust Company Inc. to issue two stablecoins — one pegged to the USD and the other to JPY — comes as a pleasant surprise.

The USD and JPY stablecoins to arrive in the State of New York

The arrival of the Japanese yen-pegged stablecoin is a major move, as this will be the first coin of its kind available to the public. However, seeing as GMO is a subsidiary of a Japanese corporation called GMO Internet, it is not surprising that the firm would want to issue such a coin.

The regulator announced yesterday, December 29th, that the DFS approval will allow GMO to “issue, administer, and redeem Japanese yen and U.S. dollar-pegged stablecoins in New York.“

The regulator’s announcement continued by adding that, with the charter granted to GMO, the DFS has approved 27 crypto licenses and charters to date.

Meanwhile, GMO-Z Trust Company’s president, Ken Nakamura, stated that the company is breaking ground with the move to issue a regulated yen-pegged stablecoin. He believes that many will see the coin as a safe haven.

However, above all, the company aims to be a pioneer and innovator in the crypto space, who will envision the creation of new applications of blockchain technology. In the end, the company wishes to transform the relationship between traditional financial services and cryptocurrencies.

The post New York approves USD and JPY-backed stablecoins appeared first on Invezz.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

OWNDATA (OWN) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Цена в час новости $ 6.94E-5 (-100%)

state own crypto new businesses york bitlicense

Источник: invezz.com

state own → Результатов: 126


Фото:

Bitcoin Whale Population Spikes to 1,882 – Highest Level in Three Years

The number of so-called whales with 1,000 bitcoin or more in their wallets has climbed to 1,882 from around 1,650 in January. It is the highest the numbers have reached in nearly three years. Whales may be defined as the Bitcoin ( BTC) community’s own version of the ‘deep state’, with the ability to swing […] The post Bitcoin Whale Population Spikes to 1,882 – Highest Level in Three Years appeared first on Bitcoin News.

2020-6-17 17:01


Industry’s Most Powerful Man: Only 1 in 1000 Own Crypto

Although Bitcoin is now over ten years old, the rest of the crypto market is still a relatively young asset class and unproven technology that’s valuations are based on pure speculation. According to the crypto industry’s most powerful man and influential figure, only 1 in 1000 people own cryptocurrencies, and that the current state of... The post appeared first on NewsBTC.

2020-2-8 22:00


38% of Asset Managers with State Street Plan to Invest in Crypto Next Year

While Bitcoin used to be an asset that investors stayed away from, many asset managers are considering adding it to their own portfolios nowadays. In a statement by the managing director of digital product development and innovation at State Street, Jay Biancamano, it looks like next year could be lucrative for the crypto market, but […]

2019-12-8 21:15


Фото:

A History of Blockchain Consensus Mechanisms

The consensus mechanism is a critical blockchain component, providing a non-partisan means of establishing agreement as to the network’s current state. But ever since Bitcoin emerged in 2008, its original consensus mechanism – Proof of Work (PoW) – has been emulated and iterated, paving the way for a series of alternative algorithms with their own […] The post A History of Blockchain Consensus Mechanisms appeared first on Bitcoin News.

2019-11-26 03:30


Russia’s Central Bank dismisses any need to issue national cryptocurrency

While several countries are wading into the cryptocurrency industry by issuing CBDCs and releasing their own national cryptocurrencies, Russia has confirmed that it won’t be following suit. According to Russian state media, Elvira Nabiullina, Head of the Russian Central Bank, asserted at a recent event that the bank seems to find that there is no […] The post Russia’s Central Bank dismisses any need to issue national cryptocurrency appeared first on AMBCrypto.

2019-10-10 14:56


Arthur Hayes Says Emerging Digital Finance Might Force The Way Traders Take Breaks

One of the biggest differences between fiat and crypto exchanges is their availability for trading. Traditional exchanges have their own trading sessions, with few providing 24-hour access. This means that you can only transact within certain timeframes with no trading during state holidays or even weekends in most cases. Talking about this to Bloomberg, the […]

2019-9-21 19:17


Фото:

Op Ed: A Summary of

In the latest on the ongoing legal dispute between the New York Attorney General (NYAG), cryptocurrency exchange Bitfinex and stablecoin issuer Tether, the New York Supreme Court has modified an April 24, 2019, preliminary injunction and now Bitfinex is allowed to continue using the Tether reserves that were loaned to it to maintain its ordinary course of business, such as paying employees and consultants.

2019-5-18 22:14


Pakistan Will Issue Its Own Digital Currency By 2025

According to the Dawn, a local media outlet, Pakistan’s central bank has announced plans to have a digital currency by 2025. Digital Version of the Pakistani Rupee Speaking about the regulation of Electronic Money Institutions, non-bank entities that will be allowed to issue “e-money” for digital payments, Pakistan’s State Bank Deputy Governor Jameel Ahmad told the audience that digital currency is more efficient.

2019-4-3 04:00


дальше еще 77 новостей →

Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Около 260 млн игроков покинули игру Hamster Kombat

Популярная «тапалка» Hamster Kombat больше не популярна. Игроки массово покидают проект. В начале августа ежемесячное количество игроков Hamster Kombat оставляло более 300 млн человек. К ноябрю этот показатель обвалился до 40,9 млн.

Bitcoin Price Forecast: What To Expect In The Final 24 Hours Before US Election

As the US presidential election approaches, the Bitcoin price has found a stable support range between $68,000 and $69,000, just shy of its all-time high earlier this year.   While the cryptocurrency has struggled to surpass this significant milestone, investor sentiment remains cautiously optimistic, with expectations for further price increases tempered by anticipated market volatility in the upcoming hours.

BNB price unfazed as Binance burns 1.7M tokens

Binance has burned over 1.7 million BNB tokens as a part of its quarterly burning initiative. On Nov. 1, Binance, the world’s largest cryptocurrency exchange in terms of trading volume, announced its 29th quarterly BNB token burn, where it removed…