GYEN is a digital asset that strives to bridge the gap between traditional finance and the blockchain world. It is a regulated Japanese Yen-pegged stablecoin, issued by GMO-Z.com Trust Company, a subsidiary of the financial and IT conglomerate GMO Internet Group from Japan. GYEN is an ERC-20 cryptographic token that is strictly pegged 1:1 to the Japanese Yen. It aims to combine the stability of the Japanese Yen with the potential efficiency of a digital asset, under the oversight of US regulators. As an ERC-20 compliant token, GYEN can be transferred on the Ethereum network.

GYEN operates on the Ethereum blockchain, using the ERC-20 protocol, a technical standard for smart contracts. It is created at the time of withdrawal from GMO Trust’s platform and redeemed or “destroyed” at the time of deposit into the platform. The total amount in circulation can be publicly viewed on the Ethereum blockchain. To assure users of its solvency, GMO Trust has engaged an independent registered public accounting firm to examine and attest to the underlying currency reserves, issuing a publicly available attestation report on a monthly basis.

GYEN aims to serve several use cases in the digital asset ecosystem. In the near term, it can be used for volatility hedging, payment for other digital assets, fiat equivalent for trading, and clearing/settlement. It also aims to provide another option in the market. In the longer term, GYEN seeks to be used for cross-border remittance, money transfers, DApp ecosystem, banking the unbanked, and exchanges and decentralized finance. These use cases aim to leverage the stability, transparency, and efficiency of GYEN.

Established in 2020, GMO-Z.com Trust Company was granted a limited purpose trust charter by the New York State Department of Financial Services and is a subsidiary of financial and IT conglomerate GMO Internet Group from Japan. The company issued GYEN, a regulated Japanese Yen-pegged stablecoin, with the intention of connecting traditional finance and blockchain for everyone. The company operates under policies, regulatory oversight, and security standards with the intention of aligning its digital assets with traditional asset frameworks.

GYEN is issued by GMO-Z.com Trust Company and strives to be pegged 1:1 to the Japanese Yen. This means that for every GYEN token issued, there is an intended corresponding amount of Japanese Yen held in reserve. This reserve is managed by a third-party trustee, aiming to keep the value of GYEN in line with the value of the Japanese Yen. The issuance and redemption of GYEN are directly facilitated by GMO Trust, intending to reduce dependency on intermediaries and potentially lower transaction costs. With the aim of maintaining transparency and trust, GMO Trust undergoes periodic third-party audits of its bank accounts and smart contracts. This meticulous auditing process is part of the company's efforts to uphold transparency and accountability, with the intention of maintaining transparency and accountability for GYEN users.

GYEN strives to bridge the gap between traditional financial services and the digital assets world. It has several features that could be relevant to businesses engaged in international trade and finance. GYEN is designed with the intention to address volatility, a common issue in the digital asset market, by being backed by a fiat currency, the Japanese Yen. This feature could be of interest to businesses exploring the digital asset industry. GYEN is issued by GMO Trust, a regulated trust company, which may contribute to its credibility. GYEN's transactions are recorded on a public blockchain, which aims to ensure transparency. GYEN is designed to enable settlements, storage and transactions, and trading across its network of partner platforms. These features are intended to support business operations, transaction processes, and settlement times.

By leveraging the Stellar network, GYEN enables users to transact seamlessly and cost-effectively across the established and proven Stellar global blockchain network. This integration aims to enhance the interoperability and accessibility of GYEN, driving opportunities for multi-currency stablecoins and improving the user experience. GYEN strives to bridge the gap in financial inclusion by providing access to formal financial services in rural areas or low-income communities, enhancing cross-border payments, and overcoming barriers to financial access.

GYEN, along with other cryptocurrencies, aims to utilize blockchain technology to support transparency and auditability. Blockchain technology, fundamentally, is a decentralized and immutable digital ledger that records transactions across multiple computers. This decentralized nature strives to ensure that every participant in the network has access to the same information, which could potentially reduce the risk of fraud. One notable aspect of blockchain is its ability to create a chain of transaction blocks that cannot be altered retroactively without consensus from all participants within the network. This technology aims to provide a level of security and reliability to financial transactions. The recording of transactions into the blockchain first requires a consensus of the affiliated members or systems as to the validity of the transaction, and each blockchain has a defined consensus model. This may contribute to user confidence in the system.