GMO-Z.com Trust Company Partners with Komainu to Offer Institutional Custody for Regulated Stablecoins GYEN and ZUSD
NEW YORK, March 6, 2023 /PRNewswire/ -- GMO-Z.com Trust Company, Inc. ("GMO Trust") has partnered with Komainu, a regulated digital asset custody service provider built by institutions for institutions, to offer secure and compliant institutional-grade custody services for GYEN and ZUSD, the regulated Japanese yen ("JPY") stablecoin and the U.S. Dollar ("USD") stablecoin.
GYEN and ZUSD are the regulated JPY stablecoin and USD stablecoin approved by the New York State Department of Financial Services (NYDFS) and are 1:1 backed stablecoins with assets held at FDIC-insured banks.
As a regulated, institutional-grade digital asset custodian, Komainu provides the same safeguards and protections that investors are accustomed to in traditional finance. This partnership enables institutional clients to leverage the regulated stablecoins ecosystem under the highest standard of compliant custody framework to consolidate and interact with digital assets.
Ken Nakamura, CEO of GMO-Z.com Trust Company, Inc., said:
"Komainu provides more than just a secure custody service - their comprehensive legal compliance and the flexibility of easy access are incomparable. We believe bridging the regulated JPY and USD stablecoins with the most advanced compliant custody solutions will pave an innovative way for institutional clients to explore leveraging digital assets. We are particularly excited to collaborate with a company with shared Japanese heritage and hope that this will develop our respective franchises in the APAC region as well as globally."
Darren Jordan, Head of Sales of Komainu, said:
"This was a logical partnership given that we are a regulated entity with Japanese roots. Our institutional-grade hybrid wallet infrastructure allows us to support one of the widest blockchain and token offerings in the market and we are particularly excited about increasing stablecoin demand with a lot of opportunities outside of USD stablecoins in particular."
Komainu is a regulated digital asset custodian built by institutions for institutions and created as a joint venture between Nomura, digital asset manager CoinShares, and digital asset security company Ledger. Offering multi-asset support with regulatory compliance, Komainu is merging traditional financial services with leading security standards for the next generation of institutional custody. Headquartered in Jersey and with offices in London, Dublin, Dubai, and Singapore, Komainu is Regulated by the Jersey Financial Services Commission (JFSC) and Dubai Virtual Assets Regulatory Authority (VARA). For more information, please visit https://www.komainu.com
About GMO-Z.com Trust Company
GMO-Z.com Trust Company, based in New York, is a limited purpose trust company, regulated by the New York Department of Financial Services. Issuing the first regulated JPY stablecoin "GYEN", and a trusted USD stablecoin "ZUSD". GMO-Z.com 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.
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