GYEN will be listed on Binance

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Users of Binance, the world’s largest cryptocurrency exchange, would buy a Binance will begin trading GYEN at 7:00 a.m. UTC.

Residents of Japan should be aware that GYEN tokens are not accessible to them due to various regulatory restrictions. Only outside of the country can GYEN be sold.stablecoin backed by the Japanese yen or GYEN. This was made possible by the trading platform’s collaboration with the fintech conglomerate GMO.

GYEN is the world’s first JPY stablecoin, released by GMO-Z Trust. It is backed by fiat at a 1:1 ratio, just like other related tokens like PAX or USDC, and is kept in FDIC-insured banks. Its reserves are audited regularly by a nationally recognized accounting firm.

According to Binance leaders, the launch of GYEN was a significant move toward the digitization of the world’s most famous currencies. Both institutional and retail investors can use this asset for trading, hedging, settlements, and arbitrage within the context of the crypto exchange.

The fact that the yen has been digitized in the Binance ecosystem, according to GMO CEO Ken Nakamura, is one of the characteristic signs that cryptocurrencies are gaining popularity. Furthermore, by exploiting the advantages of the blockchain, the conglomerate expects GYEN tokens to be more lucrative than fiat.

Binance will begin trading GYEN at 7:00 a.m. UTC.

Residents of Japan should be aware that GYEN tokens are not accessible to them due to various regulatory restrictions. Only outside of the country can GYEN be sold.

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