GMO Internet Announces Partnership with Zero Hash

GMO-Z.com Trust Company, Inc. (GMO Trust), a subsidiary of financial and IT conglomerate GMO Internet, and Zero Hash Inc.​ (Zero Hash), a leading fiat and digital asset custodian and settlement provider, have announced partnership to bring “GYEN”, the world’s first regulated Japanese yen (JPY) stablecoin, and “ZUSD” to Zero Hash’s settlement network.

GMO Trust’s GYEN and ZUSD stablecoins will be supported on Zero Hash’s settlement network, allowing Zero Hash’s network of customers to not only fund and withdraw with digital JPY anytime, but also settle instantaneously with digital JPY. What this means is the same speed, efficiency and availability enabled by Signet/SEN for USD will be available in JPY, eliminating the typical bottlenecks associated with moving and settling with JPY. In many instances, cross-border JPY transfer and settlement can take days to weeks with current financial rails — this will be a problem of the past with Zero Hash.

Kurt Bierbower, GMO Trust’s SVP of Business Development commented: “Many of the institutional counterparties we speak with express frustration over transaction times when dealing with JPY, and in partnership with Zero Hash, we set out to solve this problem. Zero Hash enables institutional trading firms, market makers and other counterparties on their network to experience incredible speed and efficiency for JPY funding, settlement, and leveraging their banking network and our stablecoins.”

Zero Hash CEO Edward Woodford said: “Zero Hash has built a powerful funding, trading and settlement solution to drastically accelerate the settlement of these new Finance 2.0 transactions.”

“We are excited to highlight our deepening partnership with GMO Trust through this regulated stablecoin offering”, he added.