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Japanese yen stablecoin GYEN shuts down; holders must redeem by Nov 11, 2026

Market News
11 Sep 2026
Crypto Briefing
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Neutral
Japanese yen stablecoin GYEN shuts down; holders must redeem by Nov 11, 2026

GMO-Z.com Trust Company is winding down its GYEN stablecoin, pegged to the Japanese yen, with a redemption period ending November 11, 2026. Holders can redeem tokens at par value through GMO Trust's platform after meeting KYC requirements. Coinbase, which suspended GYEN trading in May 2025, will convert remaining GYEN holdings to USDC by October 30, 2026. The shutdown marks the end of the first regulated yen-pegged stablecoin, which faced volatility and delisting issues since its 2021 launch on Coinbase Pro.

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