Japan’s GMO Internet Group Announces Yen-Backed Stablecoin

Japanese internet giant GMO has just announced plans to launch a new stablecoin backed by the Yen. The new coin will be called GMO Japanese Yen and is expected to arrive at some point in 2019. The company is already invested in mining hardware and cryptocurrency exchange businesses, and the launch of the coin will mark its third enterprise in cryptocurrency business.
Yen Backed Stablecoin in 2019
The announcement of a new stablecoin came on Tuesday, October 9th. The company unveiled their plans