Finder makes money from featured partners, but editorial opinions are our own. Advertiser Disclosure
GYEN (GYEN) is the 611th largest cryptocurrency in the world by market cap, valued at $17,431,922. The current price of GYEN is $0.007571, which is -0.355% lower than yesterday. Prices have ranged between $0.00763286 and $0.00753355 over the past 24 hours. All prices are listed in US dollars and accurate as of March 27, 2023 06:03 UTC.
GYEN is a Japanese Yen (JPY) stablecoin developed by GMO Trust. Launched in 2020, GMO Trust is a company focused on combining the world of traditional finance with blockchain.
One of its first products was GYEN. The coin was the first ever Japanese Yen stablecoin created and was developed as an alternative to the numerous US dollar stablecoins that litter the cryptocurrency industry. Like US dollar equivalents, the stabelcoin is intended to be used as a place to store funds away from the volatility of the cryptocurrency markets.
According to the project’s website, the GYEN stablecoin is 100% backed by physical Japanese Yen. For every 1 GYEN stablecoin in circulation there is an equivalent number of Japanese Yen stored within trustee bank accounts. As new tokens are purchased, more Japanese Yen is added to funds. When GYEN tokens are sold, Japanese Yen funds are removed. Every GYEN token is always fully redeemable on a 1:1 basis with JPY. The token was developed and runs on top of the Ethereum blockchain. In addition to GYEN, GMO Trust also offers users access to ZUSD, the company’s US dollar stablecoin token.
Disclaimer: Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed.
This guide provides step-by-step instructions on how to buy FTX, lists some exchanges where you can get it and provides daily price data on FTT.
This guide provides step-by-step instructions on how to buy Sushi, lists some exchanges where you can get it and provides daily price data on SUSHI.
This guide provides step-by-step instructions on how to buy UMA, lists some exchanges where you can get it and provides daily price data on UMA.
This guide provides step-by-step instructions on how to buy Maker, lists some exchanges where you can get it and provides daily price data on MKR.
This guide provides step-by-step instructions on how to buy Serum, lists some exchanges where you can get it and provides daily price data on SRM.
This guide provides step-by-step instructions on how to buy Reserve Rights, lists some exchanges where you can get it and provides daily price data on RSR.
This guide provides step-by-step instructions on how to buy Alpha Venture DAO, lists some exchanges where you can get it and provides daily price data on ALPHA.
This guide provides step-by-step instructions on how to buy Nexus Mutual, lists some exchanges where you can get it and provides daily price data on NXM.
This guide provides step-by-step instructions on how to buy Voyager VGX, lists some exchanges where you can get it and provides daily price data on VGX.
This guide provides step-by-step instructions on how to buy Curve DAO, lists some exchanges where you can get it and provides daily price data on CRV.
