Fiat Freeway: GMO’s JPY-pegged Stablecoin Rises in the Big Apple and Fed Researchers Weigh-in on Digital Asset Tokens vs. Accounts

Quick Take

  • ‘Fiat Freeway’ is a weekly column providing the latest updates on central bank digital currencies (CBDCs) and stablecoins. 
  • This week’s column first examines GMO-Z.com Trust Company Inc.’s trust charter approval from the New York State Department of Financial Services (NYDFS). 
  • We conclude with a review of a recent FEDS Note on the tokens vs. accounts classification of digital assets, particularly CBDCs.
Last week, ‘Fiat Freeway’ explored Visa’s novel offline payment system (OPS) protocol, which expands the global payments technology company’s fast-growing digital ecosystem into CBDC. We’ve also previously covered Paxos’ $142M Series C fundraising, FinCEN’s proposed KYC rule for digital wallets, digital asset firms seeking banking licenses, digital asset industry backlash from Capitol Hill, China’s Digital […]

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