Anchorage Digital, a regulated cryptocurrency platform, on Tuesday, said that it was offering a Stablecoin pegged to the Japanese Yen (JPY). The GYEN Stablecoin offering is a result of a partnership between Anchorage Digital and GMO.Z Trust company, a subsidiary of GMO Internet Group. According to the companies’ statement, Stablecoin has already gotten approval from the New York State Department of Financial Services (DFS), and is 1:1 backed by assets held at FDIC-insured banks. This new Japanese Yen Stablecoin offering will add to U.S. Dollar and Euro offerings that are already being offered by Anchorage Digital.
