One of the biggest internet giant of Japan, GMO Internet, announced launching of a new stablecoin that would be attached to yen, according to the official website. The name of such stablecoin is GMO Japanese Yen (GJY), this coin will be issued in Asia next year.
【PressRelease】GMOインターネット：日本円と連動したステーブルコイン（円ペッグ通貨） 「GMO Japanese YEN（ティッカーシンボル：GJY）」を アジア地域で2019年度に発行 https://t.co/J2UXqzft8E
— GMOインターネットグループ (@GMOGroup) October 9, 2018
Japanese internet giant has already created 57 stablecoins, 23 of which are in circulation.The new one pegged by yen will become a tool in helping tech companies to settle transactions for their business. This also includes crypto mining farms.
Even though internet giant possess a pile of stablecoins, Tether remains to be a global one. Furthermore, Circle, startup backed by Goldman Sachs, also announced plans of launching USD Coin, a stablecoin backed up by the US dollar.
We remind you
Subscribe to The Coin Shark news in Facebook: https://www.facebook.com/coinshark/