GMO-Z.com Trust Company has announced the listing of the Japanese yen (“JPY”) stablecoin, GYEN, and ZUSD, the U.S. dollar (“USD”) stablecoin on the leading cryptocurrency exchange Bitstamp. This collaboration allows users to seamlessly trade GYEN and ZUSD on Bitstamp, providing a trusted and secure entrance to interact with digital assets on the Stellar network. The integration of GYEN and ZUSD pairs on Bitstamp leverages the strengths of the Stellar blockchain, ensuring cost-efficient, fast, and secure transactions. It streamlines the on/off ramp process which allows users to easily convert fiat currencies into stablecoins and vice versa, enhancing the flexibility of trading opportunities and access to digital assets. GYEN and ZUSD are fully reserve backed stablecoins regulated by the New York Department of Financial Services (NYDFS). Both stablecoins are 1:1 redeemable with their underlying fiat currencies, USD and JPY, respectively. Ken Nakamura, CEO of GMO-Z.com Trust Company, Inc., said: “Our partnership with Bitstamp upholds shared values — stringent regulatory compliance and robust security standards. Introducing our regulated stablecoins, GYEN and ZUSD, to Bitstamp’s users brings a secure, efficient gateway to engage with digital assets, and empowers users to engage with digital assets with peace of mind.”
Jean-Baptiste Graftieaux, Global Chief Executive Officer, Bitstamp., said: “We’re pleased to announce our partnership with GMO Trust, which addresses the growing demand for easily accessible and secure digital asset solutions. GYEN and ZUSD are approved by NYDFS, offering trusted choices for users to engage with the crypto economy and diversify their portfolios.”