Coinbase Converts GYEN Balances to USDC as Stablecoin Winds Down
Coinbase informs customers that support for the yen-linked GYEN stablecoin is ending as issuer GMO-Z.com Trust Company retires the asset.
Coinbase Converts GYEN Balances to USDC as Stablecoin Winds Down
Coinbase informs customers that support for the yen-linked GYEN stablecoin is ending as issuer GMO-Z.com Trust Company retires the asset.
Coinbase Wind Down of GYEN stablecoin
Cryptocurrency exchange Coinbase has informed its customers that support for the yen-linked GYEN stablecoin is actively being wound down. According to reports from NewsBTC, the decision comes as the asset's issuer, GMO-Z.com Trust Company, moves to retire the stablecoin entirely from the market.
As part of this transition, customer balances held in the GYEN stablecoin are being converted to USDC. The move affects users holding the digital asset on the platform as the issuer winds down operations for the token.
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