Coinbase swaps GYEN for USDC as GMO Trust ends yen stablecoin

Community Trust Score Verified 91 % Real Verified 33 votes Updated 11 minutes ago Coinbase is set to automatically convert the remaining GYEN holdings of its customers into USDC on October 26, a strategic move that effectively forces holders to withdraw their tokens before the exchange disables all transfers to allow them to access the fixed-value redemption process offered by the issuer. The crypto exchange issued this formal notice on October 20, clarifying that it will disable all GYEN transfers on October 26 and will then convert any outstanding balances into USDC between October 26 and October 30.