Japanese Tech Giant Earns Crypto License in New York for Yen-Pegged Stablecoin

Tokyo-based tech conglomerate GMO Internet Group has just been authorized by the New York State Department of Financial Services (DFS) to issue stablecoins pegged to the US dollar and Japanese yen.

New York Approves Its First Publicly Available Japanese Yen Stablecoin

The New York State Department of Financial Services, the Bitlicense regulator, has authorized GMO to issue US dollar and Japanese yen-pegged stablecoins.

Japanese Internet Giant Licensed to Issue First JPY-Pegged Stablecoin in New York

The charter makes GMO one of only 27 companies licensed in New York to engage in virtual currency activities.

New York authorizes first Yen stablecoin operator in the US

Japanese firm GMO will now be able to offer Yen and dollar-pegged stablecoins to the public in New York. New York has given the first authorization to a stablecoin backed by the Japanese Yen to operate in the US Per a Dec.

Japan's digital yen open for more private engagement

China has been the only nation until now that has been quite confident about the release of its own digital yuan.

Digital Yen Would Make Crypto Markets ‘More Lively,’ Says CEO of Monex Group

Oki Matsumoto said a central bank digital currency would make it easier to convert cryptocurrency into legal tender.

A digital yen will make the crypto market ‘more lively,’ says Monex CEO

Oki Matsumoto, the head of Japanese financial services giant Monex, has welcomed the Bank of Japan's recent interest in central bank digital currency. Earlier this fall, the Bank of Japan announced its plans to begin testing a central bank digital currency proof-of-concept in 2021.

Over 30 Japanese Firms to Conduct Digital Yen Pilot Test

Major Japanese companies from various sectors will collaborate to engage in a pilot test to issue a private digital currency or Digital Yen.

Japan's megabanks to lead experiment with digital yen

Could a new, coordinated effort to digitalize the Japanese economy be strong enough to compete with residents' persistent use of cash? Japan's three largest banks, as part of a group of 30 private sector actors, are set to collaborate on an experiment with a digital yen.

30 Japanese Firms to Test Out a Digital Yen

Prominent companies from a range of sectors will conduct a test for Japan’s upcoming digital currency in a bid to move away from cash.

30 Japan Firms to Collaborate on Private Digital Yen: Reuters

A group of Japanese companies plans to develop and test a private digital currency that would work alongside cash.

Former Bank of Japan exec says Japan will need years to issue digital yen

A former Bank of Japan official is concerned about a digital yen triggering massive outflows from private bank deposits. Hiromi Yamaoka, former head of the payment and settlement systems department at the Bank of Japan, said that the country will likely need several years before it can issue a central bank digital currency. In a Nov.

Inflation games: Bitcoin competes with fiat on value but lacks volume

Amid global economic contraction, Bitcoin appears to be gaining momentum against struggling fiat currencies. Bitcoin being regarded as “sound money” is a common refrain among many proponents of the popular cryptocurrency.

Bitcoin’s Market Cap Is More Valuable Than the IMF’s Special Drawing Rights Reserves

At its current price per unit, the decentralized cryptocurrency Bitcoin’s market valuation has surpassed the overall value of the International Monetary Fund’s (IMF) Special Drawing Rights market (SDR $281 billion).

Bank of Japan Wants to Hear From Public About Digital Yen Development

The head of Bank of Japan (BOJ)’s payments and settlement systems department, recently said that the Central Bank was seeking public opinion on the digital yen.

Bank of Japan Wants to Hear Public Opinion on Digital Yen

Japan’s central bank is exploring how a digital currency could help enhance more traditional payment systems.

Japanese messaging giant Line developing CBDC platform

The platform would aid central banks in Asia with developing a central bank digital currency. Line, a Tokyo-based subsidiary of the South Korean internet search engine company Naver, is building a platform for developing central bank digital currencies, South Korean news agency the Chosun Ilbo reported on Oct.