GMO-Z.com Trust Company has officially begun winding down its stablecoin operations, including the yen-pegged GYEN and dollar-pegged ZUSD tokens. The issuer, regulated in New York, halted all new purchases of these assets on May 15, 2026.
A 180-day redemption window is currently open, allowing eligible token holders to exchange their holdings at par value—1 GYEN for 1 JPY and 1 ZUSD for 1 USD—without platform fees. This process requires users to complete KYC procedures on the GMO Trust platform by November 11, 2026.
Coinbase, which previously suspended trading of GYEN in May 2025, will automatically convert any remaining holdings on its platform to USDC by October 30, 2026. Users may also utilize secondary markets like Uniswap or Stellar DEX, though these channels do not guarantee par value.
The stablecoins were issued on Ethereum, Solana, and Stellar, with reserves maintained in FDIC-insured institutions and US Treasuries. GMO Trust, a subsidiary of GMO Internet Group established in 2020, launched GYEN in 2021, which later faced significant trading volatility.
