blockchainreporter
  • News
    • Altcoins
    • Bitcoin
    • Blockchain
    • Ethereum
    • Adoption
    • NFT
    • DeFi
    • Metaverse
  • Education
  • Glossary
  • Advertise
No Result
View All Result
BET NOW
blockchainreporter
  • News
    • Altcoins
    • Bitcoin
    • Blockchain
    • Ethereum
    • Adoption
    • NFT
    • DeFi
    • Metaverse
  • Education
  • Glossary
  • Advertise
No Result
View All Result
blockchainreporter
BET NOW
No Result
View All Result
Bitcoin
BTC
1d:
7d:
Ethereum
ETH
1d:
7d:
Polkadot
DOT
1d:
7d:
Solana
SOL
1d:
7d:
Ripple
XRP
1d:
7d:
Shiba INU
SHIB
1d:
7d:

INX Partners with GMO Trust to List Japanese Yen Stablecoin

Josh Fernandez by Josh Fernandez
September 22, 2021 - 7:47 am
in blockchain news
0
INX
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter

The exchange will initially list the stablecoin against the US dollar and Bitcoin.

Partnership INX & GMO

INX Limited, which operates a regulated crypto exchange and a security token platform, announced on Tuesday its partnership with GMO-Z.com Trust Company (GMO Trust), a subsidiary of the Japanese conglomerate GMO Internet Group.

Under the partnership agreements, INX Limited subsidiary, INX Digital, will list regulated Japanese yen-pegged stablecoin, GYEN, for retail and institutional investors, along with the listing of GMO Trust’s USD-backed stablecoin, ZUSD.

The platform will initially list the two stablecoins against the US dollar and Bitcoin, but has plans to introduce additional pairs in the future.

“INX is proud to partner with GMO, a global financial services powerhouse that is issuing financial-grade stablecoins,” said Shy Datika, founder and CEO at INX. “GMO has a very synergistic portfolio of businesses that directly aligns with our customer base, which we are ideally positioned to service on the digital asset side as a US regulated cryptocurrency platform.”

Bridging the Gap Between FX and Crypto

Forex trading markets execute around $6.6 trillion worth of trades daily, USD/JPY being the second most traded currency pair. According to Datika, the listing of the stablecoins will further close the gap between the forex and cryptocurrency markets.

Additionally, unlike the traditional forex market, INX will allow the trading of stablecoins even on weekends.

“GMO’s new stablecoins, including the first regulated Japanese yen stablecoin GYEN, demonstrate our firm belief that tier one institutional traders are ready to embrace innovative digital assets,” said Ken Nakamura, CEO of GMO Trust.

“We’re thrilled to bring these stablecoins to INX’s industry-leading exchange, which is built in accordance with top U.S. regulatory standards. Traditional FX brokers are actively exploring 24/7 digital FX through the utilization of stablecoins. We’re confident that the INX platform will attract the largest financial firms with its advantages in compliance, safety and technology.”

Tags: BlockchainBTCCryptoCryptocurrency
ShareTweet
Josh Fernandez

Josh Fernandez

Josh Fernandez is a well-known crypto journalist who has been actively covering the world of cryptocurrency and blockchain for several years.

Recommended For You

EOS EVM v0.5.0 Launches, Facilitating Yield+ Liquidity Mining on EOS EVM

by Mushu Butt
May 31, 2023 - 1:12 pm
0
eos evm

EOS EVM v0.5.0 release brings Yield+ Liquidity Mining to the EOS ecosystem. A major milestone for EOS, showcasing rapid development and growth.

Read more

Anoma Secures $25 Million to Propel Third-Generation Intent-Centric Architecture

by Mushu Butt
May 31, 2023 - 1:00 pm
0
anoma foundation

The Anoma Foundation has triumphantly concluded a $25 million fundraising campaign to fuel the advancement of Anoma's intent-centric architecture.

Read more

The Future of Centralized Stablecoins: Die, Thrive, or Change?

by Max Clark
May 31, 2023 - 11:01 am
0
Stablecoins

Explore the tumultuous future of centralized stablecoins amidst increasing regulation, market turbulence, and evolving practices.

Read more

Deutsche Telekom Announces Integration with Polygon Blockchain, Becomes One of the Top 100 Validators

by Shayan Chowdhury
May 31, 2023 - 9:29 am
0
telekom polygon

Deutsche Telekom joins Polygon as a validator, bolstering blockchain technology's growth and mainstream adoption.

Read more

Tenet Joins Forces with LayerZero to Drive Omnichain Adoption of LSDs

by Mushu Butt
May 30, 2023 - 4:00 pm
0
layerzero

Layer-1 ecosystem Tenet partners with LayerZero to boost omnichain adoption of LSDs, enhancing its accessibility in the broader blockchain ecosystem.

Read more
Next Post
Panther

Polygon partners with Panther Protocol to enhance privacy in DeFi

PARTNERS LIST

  • sp

PRESS RELEASE

imageedithAICLCD

Bumper’s Breakthrough DeFi Protocol Set to Reshape Options Pricing

by Chainwire
May 31, 2023 - 2:06 pm
0

London, United Kingdom, May 31st, 2023, ChainwireMarking a seismic shift in the digital asset landscape, DeFi platform Bumper today unveiled...

photoy

Ripple (XRP) Price Prediction – Ripple (XRP) Struggles to Hold Leading Position with HedgeUp (HDUP) and Solana (SOL) Covering Crypto Ground

by Max Clark
May 31, 2023 - 12:51 pm
0

Explore the high-stakes world of cryptocurrencies as Ripple (XRP) fights to maintain its leading position against rising contenders, HedgeUp (HDUP)...

tms network tmsn

TMS Network (TMSN) Makes Market Bullish with 3000% Gains While Kava (KAVA) Price Surges 40%

by Josh Fernandez
May 31, 2023 - 11:22 am
0

Discover the latest trends in the cryptocurrency market where TMS Network (TMSN) stuns with a 3000% growth in presale, making...

MZInvestDOjSBpFmtG

MetaZone Secures Funding to Expand the World’s First Tokenized App Platform for the Metaverse

by Chainwire
May 30, 2023 - 3:22 pm
0

Singapore, Singapore, May 30th, 2023, ChainwireMetaZone announced today the completion of its US$3 million seed round co-led by metaverse industry...

n

BlockchainReporter is a trusted name in the cryptocurrency and blockchain technology news space, keeping its readers abreast of the latest and most significant trends in the industry.

Here at BlockchainReporter, our team of global writers is dedicated to providing price analysis on leading cryptocurrencies and covering the latest developments pertaining to bitcoin news, altcoins news, blockchain news, NFT news and cryptocurrency adoption news from around the world.

News

  • Altcoins
  • Bitcoin
  • Blockchain
  • Ethereum
  • Adoption
  • NFT
  • DeFi
  • Metaverse

Info

  • Education
  • Glossary
  • Market
  • Press Release

Company

  • About Us
  • Terms & Conditions
  • Advertise
  • Sitemap
  • Contact

@2022 – Blockchainreporter.net. All Right Reserved.

No Result
View All Result
  • News
    • Altcoins
    • Bitcoin
    • Blockchain
    • Ethereum
    • Adoption
    • NFT
    • DeFi
    • Metaverse
  • Education
  • Glossary
  • Advertise