Exchanges· ★★★· neutral·

Coinbase to auto-convert GYEN balances to USDC ahead of stablecoin shutdown

  • —Coinbase disables GYEN transfers Oct. 26 and converts balances to USDC Oct. 26-30
  • —GMO Trust offers direct GYEN-to-yen redemption at par until Nov. 11
  • —Coinbase uses market rates while the issuer guarantees par value, so payouts may differ
  • —The shutdown follows GYEN's price collapse and a $6.75 million settlement in 2026
Why it matters: GYEN holders must withdraw before Oct. 26 or accept a market-rate conversion instead of the issuer's fixed-value redemption.
#USDC
Source: CryptoSlate
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