ZUSD-ZUSDDetailed Description

ZUSD-ZUSD Detailed Description

GMO Internet Inc., a Tokyo-based Internet conglomerate, has received approval from the New York Department of Financial Services to establish a limited purpose trust company, GMO-Z.com Trust Company, Inc. (GMO Trust). GYEN and ZUSD are 100% fiat-backed ERC20 stablecoins issued by GMO Trust. GYEN is pegged to the Japanese Yen at a 1:1 ratio, and ZUSD is pegged to the U.S. dollar at a 1:1 ratio. There will be a one-to-one reserve for each token, with all circulating backing sums of yen and dollars held securely in FDIC-insured fiduciary bank accounts.