ZUSD PriceZUSD

What is ZUSD (ZUSD)?

This article covers ZUSD issued by GMO Trust (GMO-Z.com Trust Company, Inc.); it is not the same asset as the ZUSD stablecoin announced by Zytara and Prime Trust in December 2020, and other tokens also use the ZUSD ticker. ZUSD is a fully reserve-backed, regulated U.S. Dollar stablecoin issued by GMO Trust. It is designed to maintain a stable value equivalent to one U.S. Dollar, enabling seamless trading and instant settlement across multiple blockchain networks. Every ZUSD issued by GMO Trust is backed by U.S. Dollars and U.S. Treasury Bills, and remains 1:1 redeemable with U.S. Dollars. The stablecoin is regulated by the New York State Department of Financial Services (NYDFS) under a limited purpose trust charter. ZUSD is issued as an ERC-20 token on Ethereum, an SPL token on Solana, and a native asset on Stellar. ZUSD was officially launched in March 2021 alongside GYEN, which GMO Trust describes as the first regulated Japanese yen-pegged stablecoin; RWA.xyz lists an earlier inception date of December 11, 2019. As of the latest available data, the total supply of ZUSD stands at 885,750 tokens, with a maximum supply that is unlimited. The stablecoin is positioned as a bridge between traditional finance and blockchain technology, offering a reliable and transparent digital dollar for both retail and institutional users.

Key Specifications & Tokenomics

• Name: ZUSD
• Ticker / Symbol: ZUSD
• Issuer: GMO Trust (GMO-Z.com Trust Company, Inc.)
• Parent Group: GMO Internet Group Inc.
• Regulator: New York State Department of Financial Services (NYDFS)
• Blockchains: Ethereum, Solana, Stellar
• Token Standard: ERC-20 (Ethereum), SPL (Solana), Native (Stellar)
• Category: Stablecoin, Fiat Stablecoin, Asset-Backed Stablecoin
• Total Supply: 885,750 ZUSD
• Max Supply: Unlimited
• Backing: U.S. Dollars and U.S. Treasury Bills, 1:1 redeemable
• Launch Date: March 2021
• Official Website: https://stablecoin.z.com/
• Ethereum Contract Address: 0xc56c2b7e71b54d38aab6d52e94a04cbfa8f604fa (Etherscan)
• Supply by Network (per RWA.xyz): Stellar 110,177.64; Ethereum 16,650.59; Solana 70.00
• Issuer LEI: 549300TQ0BR91YQZCE67
• Domicile: United States of America

GMO-Z.com Trust Company, Inc. is not authorized as a credit or electronic money institution in the EU, and its white papers may not meet MiCA standards, so these stablecoins cannot be publicly offered or traded in the EU.

Who created ZUSD?

ZUSD was created by GMO Trust, a subsidiary of the Japanese financial and IT conglomerate GMO Internet Group Inc. The parent company was founded in 1991 and launched its internet operations in 1995, growing to encompass more than 106 companies across internet infrastructure, multimedia, and financial ventures. GMO Trust was incorporated in New York in December 2020 and received a limited purpose trust charter from the New York State Department of Financial Services; RWA.xyz lists an earlier inception date of December 11, 2019 for the ZUSD asset. Ken Nakamura has served as CEO of GMO-Z.com since 2020; he worked briefly at Napster before joining GMO Internet Inc. in 2008 and held roles across several divisions before becoming CEO. Tomohisa Onishi is listed among the C-Suite team. Raj Gokal, Co-Founder of Solana, was referenced in the January 2024 announcement of the launch of GYEN and ZUSD on the Solana network.

How does ZUSD work?

ZUSD operates through a standardized issuance and redemption mechanism managed by GMO Trust. This mechanism has entered a wind-down phase, and the redemption deadline is November 11, 2026. Users must first create an account with GMO Trust and complete Know Your Customer (KYC) and Anti-Money Laundering (AML) procedures to verify their identities. Once verified, customers can deposit U.S. Dollars into a custody account, and GMO Trust issues an equivalent amount of ZUSD and deposits it into the customer's crypto wallet. To reverse the process, customers send their ZUSD to a smart contract that burns the tokens, and they receive their U.S. Dollars in return. This process ensures that each ZUSD is backed 1:1 by dollars, making it a fiat-backed stablecoin. Fiat deposits are held at FDIC-insured banking institutions or as SIPC-insured assets; this insurance covers the underlying deposits, not the market value of ZUSD itself, and does not eliminate issuer, custody, or redemption risk. GMO Trust publishes monthly attestation reports prepared by an independently registered accounting firm on its official website; the reports cover the U.S. Dollar and Japanese Yen reserves backing GYEN and ZUSD. The multi-chain design allows for near real-time issuance, redemption, and transaction monitoring across supported networks, with more blockchain releases planned in the future.

What makes ZUSD unique and valuable?

ZUSD distinguishes itself through its regulatory compliance, transparency, and multi-chain architecture. As a stablecoin regulated by the New York State Department of Financial Services, it operates under one of the most stringent regulatory frameworks in the United States. The stablecoin is fully reserve-backed by U.S. Dollars and U.S. Treasury Bills, with monthly third-party attestations providing verifiable proof of reserves. GMO Trust issues and redeems ZUSD directly, eliminating middlemen and reducing transaction costs while increasing security and transparency. The multi-chain issuance across Ethereum, Solana, and Stellar enables users to choose the network that best suits their needs, whether for lower fees, faster settlement, or specific ecosystem compatibility. ZUSD is supported by a number of Tier 1 custodians, wallet services, and both centralized and decentralized venues, enabling a wide range of use cases across the digital assets ecosystem. The stablecoin serves both retail and institutional clients, offering a practical solution for transactions, savings, and as a hedge against the volatility often associated with cryptocurrencies. Within days of launch, GMO Trust announced a partnership with crypto exchange Liquid to create a fully synthetic USD/JPY pair using GYEN and ZUSD.

What is ZUSD used for?

ZUSD serves multiple purposes within the digital asset ecosystem. It functions as a store of value, allowing users to maintain holdings in a stable digital dollar without exposure to the price volatility of other cryptocurrencies. It is used for payments and peer-to-peer exchange, enabling fast and low-cost transfers across borders and between parties. ZUSD also acts as a trading partner for other digital assets, providing a stable quote currency on exchanges and trading platforms. For institutional users, ZUSD facilitates treasury optimization and settlement, allowing for near-instant settlement at supported network partners and efficient management of holdings. The stablecoin can be used to create synthetic fiat pairs, such as the USD/JPY pair developed in partnership with Liquid. It is supported by leading custody providers and wallet services, allowing users to store and transact with confidence. ZUSD is available on a global network of partner venues, including retail and institutional exchanges, and can be purchased, traded, and redeemed across these platforms. Its design for stability and ease of use makes it a practical choice for everyday transactions, savings, and as a reliable medium of exchange within the blockchain ecosystem.

How Is the ZUSD ecosystem developing?

The ZUSD ecosystem has expanded across multiple blockchain networks since its launch in March 2021. Initially issued as an ERC-20 token on Ethereum, ZUSD was later launched on the Solana network in January 2024, alongside GYEN. Bitstamp publishes a learn guide on ZUSD (bitstamp.net). GMO Trust has stated that it continues to build partnerships with platforms such as Anchorage Digital to offer ZUSD and GYEN to private and institutional clients. The stablecoins are supported by a number of Tier 1 custodians, wallet services, centralized and decentralized venues, and supported settlement network partners. Within days of its initial launch, GMO Trust announced a partnership with crypto exchange Liquid to create a fully synthetic USD/JPY pair using its stablecoins. As of the latest available data, the ZUSD ecosystem has 6,232 holders according to RWA.xyz, with monthly active addresses of 271 and a monthly transfer volume of $568.69K. The monthly transfer count stands at 28,941. GMO Trust is conducting an orderly wind-down of its GYEN and ZUSD stablecoin activities pursuant to Section 605 of the New York Banking Law, which will result in the discontinuance and delisting of both stablecoins; the redemption deadline is November 11, 2026.

How to mine ZUSD?

ZUSD is not mined through proof-of-work or proof-of-stake mechanisms. As a fiat-backed stablecoin, it is issued and redeemed directly by GMO Trust. There is no mining process, no staking rewards, and no governance mechanism associated with ZUSD. The stablecoin is centrally issued by GMO Trust, which is responsible for the standardized creation and redemption of ZUSD for its customers. Users who wish to obtain ZUSD must create an account with GMO Trust, complete KYC and AML procedures, and deposit U.S. Dollars into a custody account. GMO Trust then issues an equivalent amount of ZUSD and deposits it into the customer's crypto wallet. To redeem ZUSD for U.S. Dollars, customers send their tokens to a smart contract that burns them and receive their USD in return. This process ensures that each ZUSD is backed 1:1 by dollars. There is no algorithmic mechanism, no collateralized debt position, and no yield farming associated with ZUSD. The stablecoin is designed purely as a medium of exchange, store of value, and settlement asset within the digital asset ecosystem.

How to keep your ZUSD Coin safe?

Keeping ZUSD safe requires adherence to standard cryptocurrency security practices. Users should store their ZUSD in reputable wallets that support the blockchain networks on which the stablecoin is issued, including Ethereum, Solana, and Stellar. Hardware wallets provide an additional layer of security by keeping private keys offline and protected from online threats. Before interacting with ZUSD on Ethereum, verify the token contract address 0xc56c2b7e71b54d38aab6d52e94a04cbfa8f604fa on a block explorer such as Etherscan. Since ZUSD is a regulated stablecoin issued by GMO Trust, users should also ensure they are interacting with official GMO Trust channels for issuance and redemption. Fiat deposits are held at FDIC-insured banking institutions or as SIPC-insured assets; this insurance covers the underlying deposits, not the market value of ZUSD itself, and does not eliminate issuer, custody, or redemption risk. Users must complete KYC and AML procedures when creating an account with GMO Trust, which adds a layer of identity verification and account security. Monthly attestation reports published by GMO Trust provide transparency regarding the reserves backing ZUSD, allowing users to verify the stablecoin's backing. As with any crypto asset, ZUSD can experience periods of volatility and other risks, and potential users should conduct thorough research to understand the risks and benefits associated with ZUSD and consider how it fits into their broader financial strategies.