---
title: "GYEN (GYEN) Stablecoin Analytics"
canonical: "https://pharos.watch/stablecoin/gyen-gyen/"
description: "Build-time stablecoin profile for GYEN (GYEN). Live price, supply, peg, liquidity, and flow data are served by the Pharos API."
dateModified: "2026-05-15"
---



# GYEN (GYEN)

**Peg:** Japanese Yen

**Backing:** Real-World Asset Backed

**Governance:** Centralized (CeFi)

**Status:** active

## Overview

GYEN is GMO Trust's NYDFS-chartered yen stablecoin backed by FDIC cash and {{term:treasury}}T-bills{{/term}} — pristine custody, near-zero on-chain usage, a 2026 class-action settlement on file. GYEN holds the distinction of being the most heavily regulated JPY stablecoin in existence — regulated by New York, not Tokyo. GMO Trust's NYDFS charter means reserves sit in FDIC-insured accounts and short-dated T-bills, attested by The Network Firm, which is more than most dollar stablecoins can claim. The problem is the market: at roughly $37K in DEX liquidity across two pools with 72 depeg events — including swings of nearly 77% in both directions — GYEN trades less like a stablecoin and more like a thinly-traded FX derivative. Supply has flatlined around 5.4 billion yen ($27M equivalent), unchanged week-over-week, on a five-chain deployment that generates almost no on-chain activity. The ALERT-band DEWS score of 36 and an F safety grade capture the paradox: pristine {{term:custody}}custody{{/term}} architecture wrapped around a token that almost nobody uses, in a currency that keeps losing value against the dollar anyway.

## Collateral

Japanese yen reserves held in FDIC-insured financial institutions, government money-market funds, or U.S. Treasury bills (≤3 months to maturity) per NYDFS guidelines

## Peg Mechanism

Direct 1:1 redemption for JPY through GMO Trust (NYDFS-chartered trust company)

## Jurisdiction

| Country | Regulator | License |
| --- | --- | --- |
| United States | NYDFS | Trust Charter |

## Contracts

| Chain | Address | Decimals |
| --- | --- | --- |
| ethereum | `0xc08512927d12348f6620a698105e1baac6ecd911` | 6 |
| arbitrum | `0x589d35656641d6ab57a545f08cf473ecd9b6d5f7` | 6 |
| solana | `Crn4x1Y2HUKko7ox2EZMT6N2t2ZyH7eKtwkBGVnhEq1g` | 6 |
| stellar | `GYEN-GDF6VOEGRWLOZ64PQQGKD2IYWA22RLT37GJKS2EJXZHT2VLAGWLC5TOB-1` | 7 |

## Live Data

Real-time price, supply, peg score, liquidity, and flow data live at https://api.pharos.watch/api/stablecoin/gyen-gyen.