Coinbase has initiated the mandatory conversion of all customer GYEN balances into USDC following the announcement that the yen-linked stablecoin is being retired. The issuer, GMO-Z.com Trust Company, is winding down the GYEN project in early 2026, prompting the exchange to transition user funds into the more liquid, dollar-backed USDC. Users do not need to perform any manual trades, as the conversion will be reflected automatically in their portfolios at the prevailing market rate.
Why is Coinbase converting GYEN stablecoin balances to USDC in 2026?
Coinbase is automatically converting all GYEN stablecoin holdings into USDC because the issuer, GMO-Z.com Trust Company, is retiring the yen-linked token. This action ensures that users maintain liquidity in a stable asset as support for the GYEN project officially ends across the platform.
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