GYEN is a stablecoin issued by the GMO-Z.com Trust Company Inc. The GMO Internet Group (GMO) began in 1995 and has grown into one of the biggest global providers of internet services.

GYEN is built as an ERC20 token and maintains a 1:1 peg to the Japanese Yen. It was launched to tackle the problem of sharp volatility seen across the blockchain space by bringing Japanese Yen value and pricing stability into digital cryptocurrency ecosystems. 

The project also aims to broaden the stablecoin landscape, which is largely led by U.S. Dollar-pegged coins. Note, though, that the team has also issued the ZUSD stablecoin. Like GYEN, ZUSD is ERC20-standard and pegged 1:1 to the value of the U.S Dollar.

What are GYEN’s key features and how does it work?

GYEN is fully fiat-collateralized and is minted only after the matching fiat amount is deposited. GMO handles the issuance and redemption of stablecoins through Ethereum smart contracts, helping reduce the risk of human error. It also eliminates the need for intermediaries, lowering related extra costs while improving security and transparency. Users can get and redeem GYEN through a dedicated GMO platform. 

What can GYEN be used for?

GYEN can support a wide set of applications across both short- and long-term scenarios. For instance, it may be used to buy other digital assets, serve as a hedge against volatility during highly unstable market conditions, and integrate with DeFi protocols that allow the GYEN token. It can also function as a cross-border payment option within a Yen-based economy.

Some other use cases include:

Peer-to-peer trading for fast execution, low fees, and a trustless medium of exchangeTrading on centralized and decentralized exchanges Fiat-equivalent access for trading strategies that require currency execution

Where can you buy GYEN?

GYEN can be traded on the CEXs and DEXs listed here. The most widely used venues with the highest liquidity are CoinBase Pro and Uniswap V2. The GYEN price may change based on the exchange you choose and broader market conditions. For current and historical GYEN price information, check the price charts on this page.