On December 29, 2020, New York State’s Department of Financial Services (DFS) granted a charter under New York Banking Law to GMO-Z.com Trust Company Inc., to operate as a limited liability trust company. With DFS approval, GMO is authorized to issue, administer, and redeem Japanese Yen and U.S. Dollar-pegged stablecoins in New York. The Japanese Yen stablecoin will be the first of its kind available to the public. New York, a leading global financial center, has had an interesting history with cryptocurrency. We…