Posted on

New York licenses GMO Internet to issue the first JPY-pegged stablecoin

The New York Department of Financial Services (NYDFS) has approved Tokyo-based GMO Internet to launch GYEN, the first stablecoin pegged to the Japanese yen.
GMO Internet, an internet conglomerate that offers a large array of services, including domain hosting, online advertising and what it claims is the world’s largest foreign exchange trading platform, will set up GMO-Z.com Trust Company (GMO Trust) to issue GYEN and ZUSD, a USD-pegged stablecoin. Both will start selling outside of Japan next month.
In a press announcement, GMO Trust said it had also made strategic partnerships with global digital asset exchanges to ensure …

Read More

Posted on

SoftBank will reportedly file for a SPAC on Monday

SoftBank Investment Advisers may file as early as Monday to raise between $500 million and $600 million through an initial public offering of its first special purpose acquisition vehicle, reports Axios.
SoftBank Investment Advisers manages the two Vision Funds and may continue leaning into SPACs, with two more reportedly in the works.

The conglomerate first revealed its SPAC plans in October when SoftBank Investment Advisers chief executive officer Rajeev Misra said he was planning a SPAC while speaking at the Milken Institute Global Conference. An SPAC would give the Vision Fund another way of investing in private companies, and also allow the …

Read More

Posted on

This Japanese Shop Is 1,020 Years Old. It Knows a Bit About Surviving Crises.

KYOTO, Japan — Naomi Hasegawa’s family sells toasted mochi out of a small, cedar-timbered shop next to a rambling old shrine in Kyoto. The family started the business to provide refreshments to weary travelers coming from across Japan to pray for pandemic relief — in the year 1000.Now, more than a millennium later, a new disease has devastated the economy in the ancient capital, as its once reliable stream of tourists has evaporated. But Ms. Hasegawa is not concerned about her enterprise’s finances.Like many businesses in Japan, her family’s shop, Ichiwa, takes the long view — albeit longer than …

Read More

Posted on

Microsoft announces its first Azure data center region in Taiwan

After announcing its latest data center region in Austria earlier this month and an expansion of its footprint in Brazil, Microsoft today unveiled its plans to open a new region in Taiwan. This new region will augment its existing presence in East Asia, where the company already runs data centers in China (operated by 21Vianet), Hong Kong, Japan and Korea. This new region will bring Microsoft’s total presence around the world to 66 cloud regions.

Similar to its recent expansion in Brazil, Microsoft also pledged to provide digital skilling for over 200,000 people in Taiwan by 2024 and it is growing its Taiwan Azure Hardware Systems and Infrastructure engineering group, too. That’s in addition to investments in its IoT and AI research efforts in Taiwan and the startup accelerator it runs there.

“Our new investment in Taiwan reflects our faith in its strong heritage of hardware and software integration,” said Jean-Phillippe Courtois, Executive Vice President and President, Microsoft Global Sales, Marketing and Operations. “With Taiwan’s expertise in hardware manufacturing and the new datacenter region, we look forward to greater transformation, advancing what is possible with 5G, AI and IoT capabilities spanning the intelligent cloud and intelligent edge.”

Image Credits: Microsoft

The new region will offer access to the core Microsoft Azure services. Support for Microsoft 365, Dynamics 365 and Power Platform. That’s pretty much Microsoft’s playbook for launching all of its new regions these days. Like virtually all of Microsoft’s new data center region, this one will also offer multiple availability zones.

Read More