NYDFS Grants Charter for Trust Company to Administer Stablecoins
The New York State Department of Financial Services ("NYDFS") granted a charter to GMO-Z.com Trust Company Inc. to issue, administer and redeem U.S. Dollar- and Japanese Yen-pegged stablecoins. NYDFS stated that the Japanese Yen-pegged stablecoin "will be the first of its kind available to the public."
NYDFS reported that, since 2015, it has approved 27 virtual currency licenses and trust charters.
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