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Coinbase to convert all GYEN holdings to USDC as issuer winds down stablecoin

Coinbase announced that GMO-Z.com Trust Company, Inc., the issuer of GYEN, is winding down the GYEN stablecoin, and Coinbase will convert all GYEN held on its platform to USDC from October 26 to 30, 2026. Send and receive support for GYEN will be disabled from October 26, 2026, and conversions will occur at the market rate at the time of conversion with no transaction fees. Users who do not want their GYEN converted are advised to move it to a compatible self-custody wallet before October 26, 2026, and Coinbase warns that tax consequences may apply.

Why “Confirmed”

  • Published by a primary source: Coinbase Status

1 independent source group across 2 posts · evidence score 90/100. How labels work

What the sources claim

  1. Coinbase says GYEN issuer GMO-Z.com Trust Company is winding down the GYEN stablecoin.

    “the issuer of GYEN, is winding down the GYEN stablecoin”
    Coinbase Status

  2. Coinbase will convert all GYEN held on its platform to USDC from October 26 to 30, 2026.

    “Coinbase will convert all GYEN held on Coinbase to USDC from October 26 - 30, 2026”
    Coinbase Status

  3. Send and receive support for GYEN on Coinbase will be disabled starting October 26, 2026.

    “Send and receive support for GYEN will be disabled on Coinbase from October 26, 2026”
    Coinbase Status

  4. Conversions will be made at the market rate at the time of conversion with no transaction fees.

    “Your tokens will be converted at the market rate at the time of conversion. There will be no transaction fees”
    Coinbase Status

  5. Users who do not want their GYEN converted should send it to a compatible self-custody wallet before October 26, 2026.

    “please send it to a compatible self-custody wallet before October 26, 2026”
    Coinbase Status

  6. After conversion, GYEN withdrawals will no longer be possible and Coinbase will no longer support GYEN deposits.

    “you will no longer be able to withdraw GYEN and Coinbase will no longer support deposits of GYEN”
    Coinbase Status

Sources

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Summary and claims extracted by AI with prompt analyze-story@5 on 2026-10-20 15:30 UTC. Labels are computed from the sources, not by the model.