GMO-Z.com Trust Company Winds Down Stablecoin Operations

GMO-Z.com Trust Company has initiated an orderly wind-down of its stablecoin operations. The company, which issued GYEN and ZUSD tokens pegged to the Japanese yen and US dollar respectively, began this process on May 15, 2026. New purchases of both tokens were disabled as part of this move.

Coinbase, which suspended GYEN trading in May 2025, plans to convert any remaining holdings on its platform to USDC by October 30, 2026. This conversion will be mandatory for Coinbase users, but those holding GYEN through other platforms have the option to redeem their tokens at par value before November 11, 2026.

The wind-down process involves a 180-day Initial Redemption Period, during which eligible holders can redeem their tokens on the GMO Trust platform. This will allow them to exchange their GYEN or ZUSD for Japanese yen or US dollars respectively at a rate of 1:1 with no platform fees. However, redemptions are only possible through the GMO Trust platform and require KYC and account verification.