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Coinbase to stop GYEN transfers on Oct 26, 2026, converting balances to USDC at market rates.

Market News
23 Oct 2026
Coincu
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Bearish
Coinbase to stop GYEN transfers on Oct 26, 2026, converting balances to USDC at market rates.

Coinbase announced it will halt all transfers of GYEN, a yen-pegged stablecoin, on October 26, 2026. After this date, any remaining GYEN balances on the platform will be automatically converted to USD Coin (USDC) at prevailing market rates, reflecting Coinbase's shift away from non-dollar stablecoins. Users must transfer or withdraw their GYEN before the deadline if they want to keep it, as the conversion will not offer yen fiat or other assets. This move highlights Coinbase's focus on dollar-pegged stablecoins amid regulatory and commercial pressures in the U.S. market.

Regarding Coinbase's plan to halt GYEN transfers and convert balances to USDC, here is Pluang's market snapshot as of Oct 24, 2026 02:31 WIB: Among 50 major cryptocurrencies priced on Pluang, 36 rose and 13 fell today. Notable movers include LUNC (Terra Classic) at Rp0,832 with a 2.50% increase and a typical hold time of 195 days, ETC (Ethereum Classic) at Rp141.197 with a 2.19% rise and 100% buy order activity, and FTM (Fantom) at Rp11.382 with a 2.05% decline and a typical hold time of 88 days.

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