Anchorage Digital will provide institutional custody and trading services for GMO Internet's yen stablecoin GYEN

Chain Catcher news, digital asset bank Anchorage Digital announced today that it has partnered with Japan's financial services and internet group GMO Internet Group to launch regulated yen-backed stablecoin GYEN (JPY) institutional custody and trading services through its U.S. regulated stablecoin subsidiary GMO-Z.com Trust.

GYEN is the first yen stablecoin approved by the New York State Department of Financial Services (DFS) and is a 1:1 backed stablecoin, with its assets held by an FDIC-insured bank. (Source link)