GYEN
Stablecoin Profile
GYEN (GYEN) is a fiat-backed stablecoin pegged to JPY, with $0 in circulating supply across 5 blockchain networks. Each GYEN is backed by reserves held by the issuer, with parity attested via coingecko. The peg has historically held within ±1% on most trading sessions, with reserve composition and attestation cadence the primary inputs to its credit-risk profile.
About GYEN (GYEN)
The First Regulated Digital JPY
You need to make an account (Institutional or Individual) in order to redeem GYEN for JPY
Supply History
Peg stability history
GYEN (GYEN) is designed to trade at exactly 1.00 JPY, with its peg defended through direct redeemability against off-chain reserves. Spot price currently sits at $0.0051, a -99.492% deviation from the target — well inside the stability band typical for reserve-backed dollar tokens.
How reserve-backed stablecoins defend their peg
Fiat-backed stablecoins maintain their peg through arbitrage: any time the secondary-market price drifts above $1.00, authorised participants mint new tokens by depositing dollars and sell them into the market; any time it drifts below, they buy on the open market and redeem 1:1 for dollars. The peg therefore depends entirely on (a) the reserves actually existing, (b) the issuer honouring redemption requests promptly, and (c) the issuer remaining solvent and unfrozen.
Practical implications for holders
- Counterparty risk is concentrated in the issuer and its banking partners — a banking failure (as in the March 2023 USDC / SVB episode) can cause short-term depegs even when the underlying reserves are sound.
- Reserve attestations are not full audits. Always read the firm name, scope, and date of the latest attestation report before treating the peg as risk-free.
- Redemption rights typically apply only to verified institutional partners, not to retail holders. Retail exposure is exited via secondary markets, where liquidity matters most during stress periods.
- Regulatory action against the issuer (NYDFS orders, OFAC freezes, court-ordered blacklists) can immediately impair specific addresses or even the entire token.
- Mantapex tracks peg deviation in real time from DeFiLlama price feeds, but for high-value holdings cross-check directly on at least one independent venue (CoinGecko, the issuer's own dashboard, or an on-chain DEX).
Peg-stability commentary is based on the mechanism class (reserve-backed) and is provided for educational purposes only — it is not financial advice. Past peg stability is not a guarantee of future performance, and even the highest-quality stablecoins have historically traded outside their target band during banking, regulatory, or liquidity stress.
Contract addresses
GYEN (GYEN) is deployed as a token contract on 1 blockchain network below. Always verify the contract address you're interacting with on the relevant block explorer before sending funds — phishing tokens reusing well-known stablecoin tickers are common, especially on newer chains.
| Chain | Contract address | Verify |
|---|---|---|
| Ethereum | 0xc08512927d12348f6620a698105e1baac6ecd911 | Explorer |
Contract addresses are sourced from DeFiLlama's stablecoin profile. Some chains (Tron, Solana, Aptos, Sui) use non-EVM address formats. The "Explorer" link opens the official block explorer for the given chain; we do not link out to third-party explorers that may show altered data.
Compare GYEN to other fiat-backed stablecoins
Below are the largest fiat-backed stablecoins tracked on Mantapex alongside GYEN (GYEN). Comparing supply and chain footprint within the same mechanism class is more meaningful than cross-class comparison, because the underlying peg-defence assumptions are different.
| Stablecoin | Supply | Mechanism | Chains |
|---|---|---|---|
| Tether (USDT) | $184.1B | fiat-backed | 107 |
| USD Coin (USDC) | $79.6B | fiat-backed | 125 |
| World Liberty Financial USD (USD1) | $4.5B | fiat-backed | 8 |
| PayPal USD (PYUSD) | $4.1B | fiat-backed | 7 |
| BlackRock USD (BUIDL) | $2.5B | fiat-backed | 8 |
Peg Stability
Chain Distribution
Resources & data sources
GYEN (GYEN) is tracked across major crypto data providers. The links below open GYEN (GYEN)'s pages on CoinGecko, CoinMarketCap and DeFiLlama, so you can cross-check supply, market cap, exchange listings and historical price data directly at the source.
Price feed sourced from coingecko. Supply, peg and chain-distribution data are aggregated from DeFiLlama's stablecoins dataset, which combines on-chain balances across supported networks. Numbers on this page typically refresh every 10 minutes.
Recent GYEN news
Latest reporting from major crypto news outlets covering GYEN.
- Altcoin Buzz
$ZUSD and $GYEN Stablecoins Go Live on Solana with GMOTrust
The company announced that its stablecoins, $ZUSD, and $GYEN, are now live on the Solana blockchain platform. This move boosts the stablecoins' use and shows GMOTrust's dedication…
- CrowdFundInsider
Anchorage Digital Joins with GMO-Z.com to Provide Custody, Trading of Yen Backed Stablecoin GYEN
Anchorage Digital has announced that it will provide custody services and trading for a Japanese Yen-based stablecoin GYEN. The service is being offered in partnership with…
- Coinspeaker
Anchorage Digital Partners with GMO-Z.com Trust Company to Offer GYEN Stablecoin to Institutional Clients
Coinspeaker Anchorage Digital Partners with GMO-Z.com Trust Company to Offer GYEN Stablecoin to Institutional Clients
- DCForecasts
Coinbase Faces Class Action Lawsuit Over GYEN, TerraUSD Stablecoins
Coinbase faces class action lawsuit over the GYEN and TerraUSD Stablecoins as the platform got accused of failing to do its due diligence among other things as users lost huge…
- Inside Bitcoins
Coinbase accused of listing unstable stablecoins GYEN and UST
The recent crypto bear market has strained liquidity out of crypto projects, including stablecoins. The past weeks have seen several stablecoins depegging, and Coinbase, one [.
- Cryptopolitan
Coinbase hit with a lawsuit for listing and promoting GYEN
Coinbase has been slapped with a lawsuit by users following its listing and subsequent promotion of the GYEN token. According to several reports, the digital asset recently…
- CryptoSlate
Customers sue Coinbase for promoting and trading the GYEN token
Coinbase customers have sued the exchange over the promotion and trading of GYEN, a stablecoin that crashed. The post Customers sue Coinbase for promoting and trading the GYEN…
- The Daily Hodl
Eight Small-Cap Altcoins Get Custody Support From Top US Crypto Exchange Coinbase
Coinbase continues to expand its crypto footprint by offering custodial services to more than half a dozen altcoins. In a pair of tweets, the US-based cryptocurrency exchange says…
Related stablecoins
Stablecoins comparable to GYEN by collateral mechanism, peg currency, or circulating supply — handy for spotting alternatives if a peg breaks or a regulator forces a delist.
Other fiat-backed stablecoins
Stablecoins pegged to JPY
Risk Warning
Stablecoins carry risks including de-pegging, regulatory changes, and counterparty risk. Always diversify and do your own research.