On October 9, the Japanese GMO Internet Group announced that it plans to release a yen-backed stablecoin GJY for Asian markets in 2019. New cryptocurrency can be purchased through a subsidiary cryptocurrency exchange Z.com.
GMO Internet Group brings together 111 companies worldwide. The conglomerate operates in four business segments: Internet Finance, Cryptocurrency, Online Advertising & Media, and Internet Infrastructure. The company serves 10.5 million customers, the bulk of the business falls on Internet Infrastructure – 9.27 million customers.
In addition, GMO Internet Group sells mining equipment: a new GMO Miner B3 with 24-33 TH/s hash rate and a cost of $1,999 is due out at the end of this month.
GMO Internet Group believes the GJY introduction will allow the company to settle its transactions, as it manages mining farms and an Internet bank in partnership with Aozora Bank Group, which will receive Blockchain technology for making cross-border transfers in the future.
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