GMO Group Partners with INX to Bring GYEN and ZUSD Stable Coins to Investors
Japanese internet conglomerate GMO-Z.com Trust Company announced today that it has partnered with INX Limited, a company that operates digital asset exchanges, to introduce GYEN and ZUSD stablecoins to its private and institutional investors.
Both of these companies have entered the crypto space in significant ways, with both companies teaming up with major crypto partners to drive their growth. INX had recently announced that it would introduce the first SEC-approved security token on its platform while GMO announced that it was partnering with Binance to introduce the GYEN stablecoin which would be pegged to the Japanese yen.
“INX is proud to partner with a global financial services hub that issues financial grade stable coins.” Douglas borthwick, Chief Business Officer at INX said, “GMO has a very synergistic business portfolio that aligns directly with our institutional client base, which we are uniquely positioned to serve on the digital asset side as a regulated exchange to United States.
GMO Group has been one of the largest foreign exchange exchanges in the world for over a decade and is said to bring a lot of experience in institutional trading and investing, having been a giant in Asia for many years.
INX diligently lobbied for its efforts to be approved and regulated by the SEC, which would mean that with the support of regulators it would be able to deliver its products to its target audience, institutional investors, in a way much easier.
“We are now entering a new era where highly regulated exchanges are preparing to serve the level, institutional trader.” Ken nakamura, said the CEO of GMO Trust. “We are delighted to be working with INX, who have built their exchange to the highest US regulatory standards. This level of compliance, security and technology will attract the largest financial firms to their platform. “
This partnership is likely to be a big boost for INX which is about to start operations and if trading volumes increase and initial investor interest is sustained then it would also be a big boost. inch for the GYEN stablecoin. It would be interesting to see how the ZUSD stablecoin fares as it has relied on GYEN throughout the partnerships that the GMO group establishes and we will have to see if it would ultimately be presented as a challenger to the USDT and USDC stablecoins at a certain time.