Published 15 May 2026 by GMO-Z.com Trust Company, Inc.
GMO-Z.com Trust Company, Inc. ("GMO Trust") has commenced an orderly wind-down of its GYEN and ZUSD stablecoin issuance and has commenced voluntary dissolution under New York Banking Law §605. The 180-day Initial Redemption Period during which GYEN and ZUSD may be Redeemed with GMO Trust begins today and closes on 11 November 2026. This notice sets out what the wind-down means for existing Account Holders, for prospective applicants, and for holders of GYEN and ZUSD more generally.
In connection with the wind-down, the Stablecoin User Terms & Conditions have been updated to include a new Section 11 (Orderly Wind-Down). The updated terms are available on our website.
Changes to the GMO Trust Platform
Effective: 15 May 2026
- The Purchase (Mint) function has been removed from the GMO Trust Platform. It is no longer possible to Purchase GYEN or ZUSD through GMO Trust.
- Redemption of GYEN and ZUSD remains available to Account Holders in good standing.
- Swap functionality between Supported Blockchains remains available during the wind-down period.
Redemption, Swap, and related activity continue to be governed by the Terms and Conditions of Use, the Stablecoin User Terms & Conditions, and the Account Agreement.
Initial Redemption Period
- Start date: 15 May 2026
- End date: 11 November 2026
During this 180-day period, GMO Trust will process Redemptions of GYEN and ZUSD at par value. Account Holders are strongly encouraged to Redeem their GYEN and ZUSD holdings during this period.
For existing Account Holders
Account Holders have been contacted separately by email with the procedures and practical guidance for Redeeming their holdings, including bank account registration requirements.
Please ensure that the bank account and wallet information registered to your Account remains current, and that you continue to have access to the wallet(s) holding your Stablecoins.
Stablecoins not Redeemed during the Initial Redemption Period will no longer be redeemable directly by Account Holders through the GMO Trust Platform. The treatment of such Stablecoins is set out in Section 11 of the Stablecoin User Terms & Conditions, which has been updated in connection with the wind-down. Further information will be provided in a separate notice during the Initial Redemption Period.
Platform access following the Initial Redemption Period
Following the conclusion of the Initial Redemption Period and the related wind-down activities, the GMO Trust Platform will close. Further information will be provided in subsequent notices. Account Holders wishing to retain records of their transaction history are encouraged to obtain that data from the Platform during the Initial Redemption Period.
For new applicants
GMO Trust is limiting new Account onboarding to applicants whose purpose is to Redeem existing holdings of GYEN or ZUSD directly with GMO Trust.
- We are no longer accepting applications for the purpose of purchasing GYEN or ZUSD.
- If you currently hold GYEN or ZUSD and require an Account to Redeem those Stablecoins directly with GMO Trust, we will continue to process your application under our standard onboarding procedures, including all KYC, compliance, wallet verification, and bank account registration requirements set out in our Account Agreement.
Applicants with applications in progress have been contacted separately by email.
Redemption value and secondary market prices
GMO Trust will continue to Redeem GYEN and ZUSD at par value (1 GYEN = 1 JPY and 1 ZUSD = 1 USD) through direct Redemption on the GMO Trust Platform throughout the Initial Redemption Period.
As issuance of new GYEN and ZUSD ceases and circulating supply decreases over time, prices shown on third-party sources - including blockchain data aggregators such as CoinGecko and CoinMarketCap, decentralized exchanges, and other secondary market venues - may display values materially above or below par. Any such secondary market pricing is determined by activity on those venues, does not reflect the Redemption value available to you through GMO Trust, and does not affect your right to Redeem at par.
Ongoing compliance
Throughout the wind-down, GMO Trust will continue to operate in compliance with all applicable NYDFS requirements and New York Banking Law. The Redemption process and end date described in this notice are subject to the requirements of New York Banking Law §605 and other applicable law. Standard Account, KYC, and transaction monitoring processes remain in effect.
Contact
For any questions regarding the wind-down, please contact us at: contact@gmo-trust.com.
Further information regarding the wind-down will be published as it becomes available.