Nexus Markets Expands Partnership with GMO-Z.com Trust Company by Offering Japanese Yen Stablecoin 'GYEN' and 'ZUSD' Interest-Earning Vaults
NEW YORK, May 25, 2021 /PRNewswire/ -- GMO-Z.com Trust Company, Inc. ("GMO Trust"), the New York-based, regulated stablecoin subsidiary of Japanese financial services and Internet conglomerate GMO Internet Group ("GMO") today announced an expanded partnership with Nexus Markets, a retail and institutional exchange partner, to offer JPY-pegged "GYEN" and USD-pegged "ZUSD" stablecoin Vaults.
Nexus Markets is an established exchange provider of GYEN and ZUSD liquidity. They are now expanding their support of these assets to offer their customers 7% interest on GYEN and 11% interest on ZUSD deposits (rates subject to change). The Vaults are the first in the market that allow retail and institutional clients to earn positive yields on their GYEN and ZUSD assets.
GMO Trust and Nexus are both committed to forging a path for the continued digitization of the traditional currency and financial markets through the listing of GMO Trust's digital JPY and digital USD. The partnership will continue to evolve as they both work to help their clients expand their opportunities outside of this market. The exchange and Vaults will be a premier source of liquidity and earning opportunities for clients to expand their JPY and USD exposure.
"Broadening our partnership with GMO Trust further showcases Nexus' transformative platform to earn interest on digital assets including fiat," said Ian McAfee, CEO of Shift Markets and Nexus. "We believe that providing 7% yield on negative-yielding JPY fiat presents a truly significant allocation and investment proposition for retail and institutional clientele to utilize, which cannot be found elsewhere."
"We are very pleased to expand our partnership with Nexus in introducing these innovative GYEN and ZUSD stablecoin Vaults," said Ken Nakamura, CEO of GMO Trust. "It provides a less volatile and compelling way to earn meaningful yield in today's interest rate world simply by holding historical safe have currencies like JPY and USD in digitized form."
Please note that due to regulatory restrictions, GYEN and ZUSD will not be offered to Japanese residents.
About GMO Internet Group and GMOTrust
GMO Internet Group, based in Tokyo, is a global market leader in the Internet infrastructure, Internet finance and the digital asset space since its inception in 1991. It operates the world's largest online FX trading platform, an Internet bank, a cryptocurrency exchange, a cryptocurrency mining operation, a payment gateway and a regulated stablecoin. Parent company GMO Internet, Inc. (TSE: 9449) is headquartered in Tokyo, Japan. For more information, please visit https://www.gmo.jp/en/
GMO Trust, based in New York, is a Limited Purpose Trust Company, regulated by the New York Department of Financial Services. Issuing the World's First regulated JPY stablecoin "GYEN", GMO Trust also offers a USD stablecoin "ZUSD". GMO Trust is on a mission to bring traditional finance into the digital age with blockchain services. For more information on GMO-Z.com Trust Company, Inc., visit https://stablecoin.z.com.
About Nexus Markets
Nexus is a crypto exchange that was created within Shift Markets, an FX exchange software provider, for the past four years. The team has leveraged their network in FX and Crypto to build a best-in-class global crypto exchange. The company's expansion into crypto borrowing and lending will continue to grow as they break down the global barriers that hold back clients across FX and Crypto. For more information on Nexus, visit https://www.nexus.trade.
Shift Markets is committed to building the crypto ecosystem and promoting equality in foreign trade by improving global access to cryptocurrency through use of its technology services and turnkey solutions. Shift Markets runs a proprietary exchange network called NEXUS, which provides connectivity to its 70+ exchange partners. Shift offers a variety of technology services in digital asset markets, including white label cryptocurrency exchanges, payment gateways and tokenization platforms. For more information on Shift Markets, visit https://www.shiftmarkets.com/.
GMO-Z.com Trust Company, Inc.
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SOURCE GMO Internet Group