{"id":366,"date":"2021-11-12T16:38:10","date_gmt":"2021-11-12T16:38:10","guid":{"rendered":"http:\/\/egrowonline.com\/?p=366"},"modified":"2021-11-12T16:38:10","modified_gmt":"2021-11-12T16:38:10","slug":"coinbase-pro-plans-to-launch-japanese-yen-pegged-stablecoin","status":"publish","type":"post","link":"http:\/\/egrowonline.com\/?p=366","title":{"rendered":"Coinbase Pro Plans To Launch Japanese Yen-Pegged Stablecoin"},"content":{"rendered":"


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Coinbase Professional is asserting plans to launch a stablecoin pegged to the Japanese yen, reportedly the primary of its variety.<\/p>\n

GYEN (GYEN) bills itself<\/a> because the \u201cfirst regulated digital [Japanese yen].\u201d The mission says it’s 100% fiat-backed.<\/p>\n

Coinbase first issued a press release<\/a> earlier this week asserting Coinbase Professional\u2019s plans to launch GYEN order books with the US greenback, euro and Tether (USDT).<\/p>\n

Nevertheless, Coinbase Professional later tweeted<\/a> that the buying and selling launch had been postponed.<\/p>\n

\u201cWe’ve got determined to maneuver the launch of GYEN. Presently deposits and withdrawals are nonetheless obtainable. We are going to present an replace as quickly as potential and anticipate a launch subsequent week.\u201d<\/em><\/p>\n

Regardless of billing itself as a yen-pegged stablecoin, GYEN<\/a> briefly surged to an all-time excessive of $0.01477139 on Wednesday, far outpacing the yen\u2019s value<\/a> in relation to the US greenback. The digital asset has since come down in value, buying and selling at $0.008761 at time of writing, and almost similar to the yen\u2019s worth in greenback phrases.<\/p>\n

GYEN, the 1063rd-ranked digital asset by market cap, just isn’t but obtainable on the Coinbase retail platform or the agency\u2019s iOS and Android functions.<\/p>\n

Coinbase\u2019s chief govt Brian Armstrong\u00a0said<\/a>\u00a0this summer time that the trade was hustling to checklist as many altcoins as potential.<\/p>\n

\u201cReminder about how Coinbase lists property: our objective is to checklist *each* asset the place it’s authorized to take action.\u201d<\/em><\/p>\n

Examine Price Action<\/a><\/span><\/em>
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