Buy GYEN

What is GYEN?

GYEN is a stablecoin issued by GMO-Z.com Trust Company and pegged 1:1 to the Japanese Yen (JPY). It is the first regulated JPY stablecoin, operating primarily on the Ethereum and Solana blockchains. The stablecoin is fiat-backed, providing stability and allowing seamless trading and instant settlement capabilities, while adhering to regulatory standards set by institutions like the New York State Department of Financial Services.

How does GYEN work?

GYEN functions by leveraging blockchain technology to facilitate transactions that are both swift and cost-efficient. As an ERC-20 token on Ethereum and also integrated into Solana, it supports secure and efficient transactions through smart contracts. It operates by maintaining reserves in Japanese Yen, ensuring each GYEN token is backed 1:1, thereby mitigating volatility often associated with cryptocurrencies. The stablecoin is also subject to monthly third-party attestations to ensure transparency and solvency.

What are the potential use cases for GYEN?

GYEN has several use cases, primarily in areas like:

• Cross-Border Remittances and Payments: Facilitates fast, secure, and cost-effective international transactions.
• Volatility Hedging: Provides a stable store of value, useful in mitigating market volatility.
• Trading and Settlement: Ensures seamless trades and near-instant settlement across global platforms.
• Decentralised Finance (DeFi): Integrates into DeFi ecosystems for staking, lending, and liquidity provision.
• Banking the Unbanked: Offers financial inclusion in regions with limited banking infrastructure.

What is the history of GYEN?

GYEN was developed by GMO-Z.com Trust Company, a subsidiary of the GMO Internet Group, and was first launched in 2020 after the company was granted a limited-purpose trust charter by the New York State Department of Financial Services. Initially launched on the Ethereum blockchain, GYEN expanded to other networks like Solana to enhance transaction efficiency. Over the years, it has grown its market presence through strategic partnerships and regulatory compliance, becoming a versatile tool for both individual and institutional users in various financial applications.