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Yen-backed Crypto in the Works by Chinese Blockchain Company

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Good news for Japanese people Grandshores Technology Group is planning on raising $100 million HK via ICO to finance a yen-backed digital token.

We know that China is strict when it come to crypto, but Japan is quite the opposite and they love cryptos, so it's logic that some chinese funds start to flow to launch projects in Japan.

The project itself is not exceptionnal or innovative, it's a new stablecoin like Tether or TrueUSD but pegged on the Yen instead of the USD. And what is fun is that the funds will be raised ... in Tether.

The coin is suppose to be launch before the end of the year ar at least n early 2049.

Source : https://cryptocurrencynews.com/crypto-in-japan-yen-backed-stablecoin

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