First regulated Japanese‌ yen stablecoin GYEN listed on crypto exchange Liquid

GYEN enables users to trade one of the most traded currencies, JPY, with other currencies in crypto and expand their trading strategies. Aside from GYEN, a new USD-pegged stablecoin ZUSD will be also launched simultaneously...

First regulated Japanese‌ yen stablecoin GYEN listed on crypto exchange Liquid

Liquid, a Tokyo headquartered bitcoin and cryptocurrency exchange company, today announced the dual listing of GYEN, the first regulated Japanese yen stablecoin, and ZUSD, a U.S. dollar-backed stablecoin.

From March 1st, Liquid will offer seamless conversion of GYEN and JPY via a GYEN/JPY order book that allows traders to convert stablecoin and fiat 1:1 24/7 in real-time. GYEN and JPY will be combined into a single order book; which will optimize liquidity and provide diversified digital fiat options to traders.

Additionally, Liquid will soon offer a synthetic FX pair of USD/JPY via stablecoins. This will unlock synergies with one of the most widely traded forex pairs in the world.

GYEN is a 100% fiat-backed ERC-20 stablecoin developed and issued by GMO-Z.com Trust Company. Japanese Yen that backs GYEN in circulation is held securely in FDIC insured trustee bank accounts. Every token will have a one-to-one reserve balance and can always be redeemed at a 1:1 ratio.

GMO Trust stablecoins allow users to seamlessly trade across Liquid’s high-speed and global network of partner exchanges.