Japanese Internet giant launches stablon tied to the yen

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Japanese Internet giant launches stablon tied to the yen

GMO Internet Group, a Japanese Internet company, actively investing in mining and cryptocurrencies, has announced plans to release GMO stablon Japanese Yen (GJY).

In GMO started “full-scale preparations for the production of stable digital currency with which a company can enter the market of electronic payments”.

At the moment in the world there are 57 projects running stable coins 23 stablon are already in circulation, but the GMO Internet Group is not scary. GJY, say a representative of the company to be created specifically for the Asian market. Launch coins scheduled for 2019 fiscal year beginning in Japan on 1 April.

According to the creators GJY, this asset will help to solve the problem of hyperinflation in developing countries, centralization and low profitability of some national Fiat currencies.

GMO Japanese Yen is not the first cryptoprocta GMO. Last year the company created a Region Token is the project open source for emission of scriptaction municipalities in Japanese cities.

Using the Token Region, Japanese companies can easily produce their own digital assets available to pay for goods and services. This system will help save costs for releases of their own crypts is limited to the cost of processing the transaction. Region Token can be exchanged for Fiat or to receive bonuses for purchases. And since the service is running on the platform of the Ether, created assets can be exchanged for any tokens of the standard ERC20.

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