New gold-based stablecoin by trading giant Mitsui reportedly on the way
Mitsui is reportedly planning to launch its gold-pegged stablecoin ahead of DCJPY, another major Japanese stablecoin project. Japanese trading house Mitsui is reportedly planning to issue a cryptocurrency pegged to gold, local news agency Nikkei Asia reported Friday.Called ZipangCoin (ZPG), Mitsui’s new digital currency will reportedly be issued as early as February and will be available to retail investors through cryptocurrency exchanges.The stablecoin will be linked to gold prices at yen-denominated prices by Mitsui from the London Metal Exchange, with one ZPG valued equivalent to one....
Related News
Sumitomo Mitsui Trust, one of the major banking institutions in Japan, will reportedly enter the cryptocurrency custody business. The company is entering a partnership with Bitbank, a Tokyo-based cryptocurrency exchange, to launch a new company that will focus on offering institutional-grade custody for digital assets and NFTs.
Sumitomo Mitsui Trust Bank to Enter Digital Custody Business
Sumitomo Mitsui Trust Bank, a major financial institution in Japan, has decided to enter the cryptocurrency custody business. The company announced that it will launch a digital assets custody....
Paypal is reportedly working on a stablecoin backed by the U.S. dollar to expand its cryptocurrency offerings. “We will, of course, work closely with relevant regulators,” the company stressed. Paypal Is Exploring Launching Its Own USD-Backed Stablecoin Paypal Holdings Inc. is reportedly exploring the launch of its own stablecoin backed by the U.S. dollar as part of the company’s cryptocurrency push, Bloomberg reported Friday. Jose Fernandez da Ponte, senior vice president of crypto and digital currencies at Paypal, confirmed to the publication: We are exploring a....
The new coin is named after a god in Irish mythology and will go by the ticker symbol EURL. Groupe Casino, a 120-year-old retail company headquartered in France, will reportedly be launching a stablecoin pegged to the Euro.According to journalist Grégory Raymond, the French retail giant will be launching the stablecoin to use in its stores’ loyalty programs as well as for trading. Groupe Casino oversees more than 11,000 stores in France and Latin America. The coin has reportedly been developed using the Tezos protocol in partnership with crypto exchange Coinhouse, accounting firm....
Backed by American investment bank Goldman Sachs, Circle is a major stablecoin partner of payment giant Visa. Circle, a Goldman Sachs-backed fintech company focused on stablecoin development, has reportedly announced plans to go public.The company said it would go public through a merger with an unnamed blank-check company in a deal that values at $4.5 billion, Reuters reported Thursday.Circle is principal developer of USD Coin (USDC), the second-largest stablecoin after Tether (USDT). In late May, the company raised $440 million in private investment from an array of private equity,....
The Japanese insurance provider, Mitsui Sumitomo has announced the launch of a new product that will cater to the domestic cryptocurrency market. The cryptocurrency revolution is opening up new markets for conventional businesses as well. The insurance industry is one such sector that can capitalize on the increasing demand. Mitsui Sumitomo, the Japanese insurance major has announced its plans to offer a new product exclusively for the cryptocurrency sector. Cryptocurrency exchange platforms around the world are under constant threat of being hacked. Many exchanges including Japan’s own Mt....