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[GMO Internet Group]

ZUSD

Grade
B-
Date of Rating:
N/A
Last Change:
N/A
SMIDGE Scores
[S] Stability
[M] Management
[I] Implementation
[D] Decentralization
[G] Governance
[E] Externals
[S]
N/A
[M]
N/A
[I]
N/A
[D]
N/A
[G]
N/A
[E]
N/A
ZUSD Price
Last Update:
25/08/2026 17:01:00
N/A
Market Cap
N/A
24h Volume
N/A
Collater­alization
100%
Peg
USD
Backing
Fiat
Data provided by
Coingecko
SMIDGE Scores
[S] Stability
[M] Management
[I] Implementation
[D] Decentralization
[G] Governance
[E] Externals
[S]
N/A
[M]
N/A
[I]
N/A
[D]
N/A
[G]
N/A
[E]
N/A
Core Team
  • Hidden Name
  • Hidden Name
Audits
Native Chains
  • Chain
Links
Full Report
Scoring Guidelines
[S]
[M]
[I]
[D]
[G]
[E]
0.00
0.00
0.00
0.00
0.00
0.00
GMO Internet Group
B-
  • ZUSD by GMO Internet Group is backed exclusively with bank deposits held in custody by the East West Bank in California, US. Since ZUSD is being phased out, the reserves are held as bank deposits to fulfill timely redemption requests.
  • Reserves backing ZUSD are held in segregated accounts for the benefit of token holders, and cannot be used for the issuer’s regular business operations. These assets will likely remain protected from any potential bankruptcy of the issuer.
  • ZUSD is issued by GMO Internet Group via the GMO-Z.com Trust Company, a limited purpose trust company regulated by the New York Department of Financial Services (NYDFS).
  • GMO Internet Group publishes monthly attestations of reserves backing ZUSD. The issuer is required to submit audited financial statements of the issuing subsidiary to the NYDFS and those of the parent company to the Financial Services Agency (FSA) in Japan.
  • ZUSD does not have sufficient secondary market trading volume or onchain liquidity to allow current holders to exit without slippage. However, all holders from supported jurisdictions can onboard with the issuing subsidiary and redeem ZUSD directly at par.
  • Since ZUSD has entered voluntary dissolution, users cannot mint new ZUSD. Due to this, riskless arbitrage does not exist when ZUSD trades above $1, resulting in the market price consistently trading above $1.
  • Suitability - Since ZUSD is being phased out, we do not recommend using this stablecoin. Users are better served by other alternatives from issuers with ongoing operations.


GMO Internet Group
Stability

ZUSD is backed exclusively by USD bank deposits. Reserves are held in segregated accounts by the East West Bank.

Since ZUSD is being phased out, users can no longer mint new supply. Existing holders can redeem directly with the issuer.

GMO Internet Group
Management

ZUSD is issued by GMO-Z.com Trust Company, founded as a subsidiary of the GMO Internet Group in 2020.

The issuer is led by Ken Nakamura as the CEO of GMO-Z.com Trust Company and Masatoshi Kumagai as the CEO of GMO Internet Group.

GMO Internet Group
Implementation

This factor evaluates technical implementation using sub-factors that cover smart contract quality, oracle & bridge risk, supply integrity, and more.

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GMO Internet Group
Decentralization

This factor evaluates decentralization using indicators such as regulatory oversight, asset custody, governance controls, and more.

ZUSD is not suitable for users who prioritize censorship resistance over regulatory protection. Decentralization is not a key objective for the issuer.

GMO Internet Group
Governance

ZUSD is issued by a limited purpose trust company that is regulated by the New York Department of Financial Services.

The issuer publishes monthly attestations of reserves from an independent accounting firm, and submits audited financial statements to the regulator.

GMO Internet Group
Externals

This factor evaluates external feedback using indicators like prediction markets, social sentiment, perpetual futures, and more.

Currently, we do not assign a standalone score to this factor. An independent assessment of external feedback will be included in future iterations.