{"id":403639,"date":"2022-02-04T12:54:05","date_gmt":"2022-02-04T09:54:05","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/new-gold-based-stablecoin-by-trading-giant-mitsui-reportedly-on-the-way\/"},"modified":"2022-02-04T12:54:05","modified_gmt":"2022-02-04T09:54:05","slug":"new-gold-based-stablecoin-by-trading-giant-mitsui-reportedly-on-the-way","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/new-gold-based-stablecoin-by-trading-giant-mitsui-reportedly-on-the-way\/","title":{"rendered":"# New gold-based stablecoin by trading giant Mitsui reportedly on the way"},"content":{"rendered":"<p>&#8220;<strong># New gold-based stablecoin by trading giant Mitsui reportedly on the way  <\/strong>&#8221;<br \/>\n<img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDIvMjhlMzg3NTUtZTk0Ny00NDk5LThhMzAtYjQxOWQzOTk2OGE4LmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-128018ef>Japanese trading house Mitsui is reportedly planning to issue a cryptocurrency pegged to gold, local <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">news<\/a> agency Nikkei Asia <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/asia.nikkei.com\/Spotlight\/Cryptocurrencies\/Mitsui-Co.-to-issue-cryptocurrency-linked-to-gold-prices\">reported<\/a> Friday.<\/p>\n<p>Called ZipangCoin (ZPG), Mitsui\u2019s new digital currency will reportedly be issued as early as February and will be available to retail investors through cryptocurrency exchanges.<\/p>\n<p>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 gram of gold and guaranteed by Sumitomo Mitsui Banking.<\/p>\n<p>According to the report, the new gold stablecoin will be initially offered through Mitsui\u2019s proprietary crypto exchange and later made available on other exchanges. The trading house launched a crypto trading platform with Seven Bank Japan, registering the exchange with the Kanto Local Finance Bureau under Japan\u2019s Financial Services Agency (FSA) <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>roval.<\/p>\n<p>The new gold-based digital currency is aimed at enabling new options to mitigate financial risk and hedge against inflation. Apart from offering new investment opportunities, Mitsui also reportedly plans to allow ZPG to be used for payments via smartphones at stores and supermarkets, as well as for bill payments.<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Mark Zuckerberg\u2019s stablecoin project Diem officially shuts down<\/em><\/strong><\/p>\n<p>Mitsui is not the only Japanese company focused on stablecoin development. In November 2021, a consortium of 74 companies including Mitsubishi UFJ, Mizuho Financial and Sumitomo Mitsui Financial announced a trial of DCJPY, a bank deposit-backed yen-based digital currency.<\/p>\n<p>According to Nikkei, Mitsui hopes to issue its retail-focused ZPG ahead of DCJPY.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/p>\n<\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more News articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/new-gold-based-stablecoin-by-trading-giant-mitsui-reportedly-on-the-way\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# New gold-based stablecoin by trading giant Mitsui reportedly on the way &#8221; 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\u2019s new digital currency will reportedly be issued as early as February and will be available to retail&#8230;<\/p>\n","protected":false},"author":1,"featured_media":403640,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDIvMjhlMzg3NTUtZTk0Ny00NDk5LThhMzAtYjQxOWQzOTk2OGE4LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74867,74863,75159,75493,80628,74355,71835,20618,70934],"class_list":["post-403639","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-altcoin","tag-cryptocurrencies","tag-digital-currency","tag-stablecoin","tag-sumitomo-mitsui-bank","tag-adoption","tag-gold","tag-japan","tag-regulation"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/403639","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=403639"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/403639\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/403640"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=403639"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=403639"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=403639"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}