GMO-Z.com Trust Company, the New York-regulated issuer of GYEN and ZUSD, began an orderly wind-down of its stablecoin operations on May 15, 2026, disabling new purchases of both tokens. GMO Trust opened a 180-day Initial Redemption Period through November 11, 2026, during which eligible holders can redeem GYEN at 1 Japanese yen and ZUSD at $1 without platform fees, subject to its KYC and account requirements. Coinbase will convert all GYEN held on its platform into USDC between October 26 and 30, 2026, with no conversion fee, and will suspend GYEN transfers effective October 26. After the redemption period, unclaimed tokens will enter a mandatory process under GMO Trust’s Stablecoin User Terms and Conditions. Secondary-market exit routes include Uniswap pools on Ethereum and Arbitrum and Stellar decentralized-exchange options, although those trades do not guarantee par value. GYEN and ZUSD were issued on Ethereum, Solana, and Stellar, with reserves held in FDIC-insured institutions and US Treasuries under New York State Department of Financial Services guidelines.