Everything to know about GYEN and ZUSD listing on Liquid

In Crypto Spotlight

What is happening?

Liquid will be listing GYEN, a JPY stablecoin described by its issuer as “the first regulated digital JPY”. Global customers will be able to exchange GYEN on Liquid for JPY.  Liquid will also be listing ZUSD stablecoin.  The tokens are ERC-20 and compatible with most crypto wallets.  The tokens are backed 100% by fiat currency held in segregated accounts at FDIC-insured banks.

Who is the issuer?

Both tokens are issued by GMO-Z.com Trust Company, a division of GMO Internet that has been granted a limited liability trust company charter from the New York State Department Financial Services.  

When is the listing of GYEN & ZUSD happening?

Listing will start on 03-March-2021 at 3:00 PM JST.  Liquid will enable deposits of GYEN & ZUSD 1 week prior to launch.

How can I acquire and redeem GYEN?

1. You can acquire GYEN for JPY via the GYEN/JPY order book

2. Register with GMO Trust: https://account.stablecoin.z.com/signup

What is the value proposition of GYEN?

Via Liquid’s GYEN/JPY order book you can acquire JPY with GYEN.  Once JPY is acquired, traders can participate in Liquid’s fiat-based order books of BTC/JPY, ETH/JPY, XRP/JPY, BCH/JPY, and QASH/JPY.  The order books are shared between Liquid Global & Liquid Japan customers and are some of the deepest sources of JPY liquidity in the world.

What are the trade fees?

GYEN/JPY and ZUSD/USD will have set fees (subject to change):

    • Makers will enjoy 0.01% rebate 
    • Takers will pay 0.07%. Trade fees paid in QASH will benefit from a 50% discount 
    • Other pairs will follow the standard Liquid trade fees schedule

Are there post-only order types available?

Yes, with Liquid’s post-only order type traders can post limit buy/sell for 1:1  Traders receive a rebate of 0.01% for providing liquidity in the stablecoin markets.

Which trade pairs will be listed at Liquid?


What are other use cases of GYEN & ZUSD at Liquid?

GYEN can be used to access Liquid’s most liquid orderbook BTC/JPY, on which one can apply a trading arbitrage strategy to take profit in the market. In addition, given that USD/JPY has the highest volume FX market in the world, we encourage payment/remittance use cases for GYEN and ZUSD. We also hope that JPY’s standing as a reserve currency can be applied to this in the stablecoin markets.

GYEN & ZUSD can also be swapped into over 100+ digital assets via Liquid’s Quick Exchange tool.  GYEN can also be purchased via Visa/MasterCard. GYEN & ZUSD can be withdrawn like any other ERC-20 token. Liquid will broadcast to the blockchain in ~2 minutes from the request.

Liquid plans to make all stablecoins such as USDT, USDC, ZUSD, GYEN, IDRT, and XSGD available via Liquid Earn where stablecoins can be used to earn reward of up to 12% APY.

What other stablecoin/fiat pairs are offered at Liquid?

USDC/USD, XSGD/SGD. More stablecoin/fiat pairings are planned for Q2 2021.

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