Date: a month ago   Category: Economy

The Japanese company GMO Internet will start стейблкоин, tied to yen, in 2019


The GMO Internet company seeks to strengthen the presence in the cryptoforeign exchange market and planned in 2019 to start стейблкоин, tied to the Japanese yen, GMO Japanese Yen (GJY).

the GMO Internet Group Company with Tokyo opened plans for the virtual coin provided with the Japanese yen 1:1. The company which owns the cryptocurrency exchange and mayningovy division, stated on Tuesday, October 9 that in 2019 it will enter the market with a product of GMO Japanese Yen (GJY) meaning that the cryptocurrency sector becomes a considerable source of profit for service provider.

of GMO Internet continues to work on rules to define where and as the main reserves of GJY will be involved. The company will develop a coin through the international department of Z.com which offers a cloud service of service now. GJY will be guided generally by Asia, so far it is the main region of business for group. Steyblkoina can become one of solutions of a hyperinflation which affects many developing countries as an alternative for unreliable local currency though such questions as the real decentralization, have to be solved. Besides, as non-cash payments become more widespread in the developed countries, steyblkoina have potential to exceed national currencies and to become the global standard for innovative financial infrastructure, - it is said in the statement of the company.

In spite of the fact that within a year the GMO Internet company works in cryptocurrency space, they constrained development of own coin because of volatility of the market. After carrying out the analysis the company decided that steyblkoina will be the most acceptable choice. GJY will enter the market where now Tether (USDT) dominates and several new projects appeared. GMO Internet positions cryptocurrency business as the strategic business sector and is already engaged in the cryptocurrency exchange and a cryptocurrency mining. Since start new, tied to yen, currencies, we will support transactions with cryptocurrencies without borders, - it is said in the statement.

In May the Japanese company plunged into cryptocurrency business, having opened the cryptocurrency exchange GMO Coin exchange, and then opened mayningovy division. Recently the GMO Internet company declared that the new Internet bank will use a blockchain as one of ways of calculations for payments.

According to the last financial information cryptocurrency business of GMO Internet for the second quarter made 255 million yens ($2,3 million). Total amount for group was 6,5 billion yens ($57,4 million).

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