GYEN and ZUSD support Ethereum’s The Merge

The significant Ethereum upgrade, the transition from Proof-of-Work to Proof-of-Stake, is around the corner. As the token issuer of GYEN and ZUSD, we are excited about The Merge and will fully support the Ethereum Proof-of-Stake chain.

Since the launch of GYEN and ZUSD, the world’s first regulated JPY-pegged stablecoin, and the regulated USD-pegged stablecoin issued on the Ethereum network, GMO Trust has been dedicated to building the future of digital assets. We believe after the upgrade, the reduction in energy consumption and the potential improvements in scalability will be essential elements for the development of the Ethereum ecosystem and the potential of digital assets.

We will closely follow the progress of The Merge and prepare for any necessary support accordingly to be in line with the Ethereum official schedule.

The upcoming upgrade will not affect the reserve asset value underlying GYEN and ZUSD.

We expect to have a period of service downtime to align with the Ethereum upgrade schedule. During the suspension period, no actions are required on our customer’s side, while our platform for purchasing and redeeming the GYEN and ZUSD stablecoins, will be temporarily unavailable.

The latest news and announcements will be updated on our Notification page.

In the meantime, please be aware of any phishing or spoofing attempts during the transition period.

After the upgrade, GYEN and ZUSD on the Proof-of-Stake chain will be the only valid version, and support for the Ethereum Proof-of-Work chain will be ceased after the upgrade is completed.

GMO Trust will not support any forked tokens created after the Merge. Customers will not be able to claim or withdraw any forked tokens from our service platform.