GYEN is a stablecoin backed by Japanese yen on the Solana
GYEN is a US-compliant stablecoin issued by the US subsidiary of the GMO Internet Group
Notably, it is backed 1:1 by the Japanese yen. Whilst most stablecoins globally are pegged 1:1 to the US dollar, it is an objective fact that JPYC is the first stablecoin that comes to mind when considering those backed 1:1 by the Japanese yen. However, the existence of a yen-denominated stablecoin compliant with US law—given the US’s central role in the global economy—is of immense significance.
Furthermore, GYEN is compatible with the Solana chain. By swapping to GYEN just before Solana’s price drops, it offers a defensive advantage that safeguards its value. This provides the impetus to swap back to a recovering Solana whilst maintaining the yen’s advantage. We would like to share this valuable information with everyone at BULB and others, highlighting that, in addition to US dollar-pegged stablecoins, a Japanese yen-pegged stablecoin is now operating on the Solana chain.
We hope you enjoy a better Solana experience!
