In July, GMO launched its blockchain-powered online bank, a joint venture between several of the company's subsidiaries and Aozora Bank. In the U.S., both Gemini and Paxos last month confirmed they would issue USD-backed stablecoins. More recently, PwC announced it would provide tech expertise to decentralized lending platform Cred to deliver transparency to their USD-backed stablecoin. Kumagai added that GMO would seek to list GJY on "multiple" international exchanges.