Japanese stablecoin technology provider GUGroup completes US$2.9 million in financing

According to Ledger Insights, on December 13th, Japanese stablecoin technology provider GUGroup completed a financing round of 420 million yen (approximately 2.9 million USD), with Japanese investment firm B Dash Ventures participating. GUGroup also raised some funds by selling tokens to some overseas investors.

GUGroup's subsidiary, GUCoin Studio, provides stablecoin issuance solutions and has launched stablecoin pilot programs with three financial institutions: Shikoku Bank, Fukuoka Financial Group's Minna no Bank, and Tokyo Kiraboshi Financial Group. GUGroup is also the initiator of the Ethereum-compatible chain Japan Open Chain, and currently, companies such as Sony subsidiary Corgear, NTT Docomo, and Dentsu have joined the blockchain as validating nodes.