March 31, 2025
By Joe Pan
Taiwanese companies are increasingly pivoting toward stablecoin solutions despite the absence of a local legislative framework for issuers, as evidenced by a new international partnership announced last week.
OwlTing Group, a Taiwan-based blockchain fintech company, has partnered with GMO-Z.com Trust Company to integrate GYEN, the first regulated Japanese Yen stablecoin, into its digital wallet platform. The collaboration aims to bridge traditional and digital finance by enabling “fast, low-cost global payments” through stablecoins, according to the companies.
The partnership will expand OwlPay Wallet Pro to support “buying, selling, sending, and receiving” multiple regulated stablecoins, including GYEN, ZUSD, USDC, and EURC. This will provide coverage for three of the world’s most traded currencies: the U.S. dollar, euro, and Japanese yen.
OwlTing founder and CEO Darren Wang said the alliance with GMO Trust would help “redefine global financial connectivity” while “unlocking Japan’s digital payment potential” and building a platform for a borderless economy.
Ken Nakamura, CEO at GMO-Z.com Trust Company, noted that delivering their stablecoins via OwlPay Wallet Pro would create “new opportunities” at the intersection of traditional and digital markets as part of their strategy to “lead the stablecoin revolution.”
The partnership comes amid significant growth for OwlTing’s digital wallet platform. “OwlPay Wallet Pro saw a 300% quarter-on-quarter growth in users in Q4 2024. The U.S. remains the primary trading market, with growing activity in Europe, Africa, South America, and Asia,” an OwlPay spokesperson told Blockwind News in a follow-up email.
The companies highlighted the efficiency of stablecoins for cross-border transactions, citing industry reports that traditional remittance costs often exceed 6% per transaction, while stablecoin transfers cost less than 1% and settle within seconds.
A practical application would allow users in the United States to send GYEN to business partners or family members in Japan, providing a stable alternative to conventional systems while enabling effective hedging against currency fluctuations.
OwlTing currently holds Money Transmitter Licenses or equivalents in 31 U.S. states and is ISO 27001 certified. The company’s OwlPay Wallet Pro functions as an unhosted wallet, giving individual users control over private keys and funds.
Founded in 2010, OwlTing was selected by KPMG and HSBC as one of “the Leading 3 Emerging Giants in Taiwan” in 2022. The company has branch offices in the U.S., Japan, Singapore, Hong Kong, Thailand, and Malaysia.
GMO-Z.com Trust Company, established in 2020 and chartered by the New York Department of Financial Services as a limited purpose trust company, issues regulatory-compliant stablecoins including GYEN and ZUSD on various blockchain networks.
About the Author
Joe Pan is an editor at Blockwind News and an early adopter of blockchain technology. He has covered major crypto conferences globally since 2019 and moderated Web3 events across Asia. Joe is part of the founding team of Blockwind News and teaches Asia’s only accredited Master of Journalism class on “Covering Cryptocurrency and Blockchain” at Hong Kong Baptist University.
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