Helix Launches the First-Ever On-Chain Japanese Yen (JPY) Market

Helix Launches the First-Ever On-Chain Japanese Yen (JPY) Market
To begin trading GYEN/USDT, visit here: https://helixapp.com/spot/gyen-usdt

Helix, the premier decentralized exchange built on Injective, today announces the launch of the Japanese Yen (JPY) forex pair on its platform. This groundbreaking listing is made possible in connection with FX market leader Cables Finance, and it signifies a historic moment as Helix becomes the first truly on-chain exchange infrastructure to feature JPY.

The Japanese yen is the official currency of Japan and the third most traded globally, accounting for a daily average volume of $1.2 Trillion. The introduction of the Japanese Yen on Helix marks a significant milestone, as users now have the unique opportunity to trade a tokenized version of one of the world's most prominent fiat currencies entirely on-chain.

The tokenized JPY was made possible by working alongside Cables Finance, a decentralized exchange integrating currency rails from traditional finance into crypto. Cables Finance specifically is helping to provide institutional-grade liquidity to on-chain Yen markets.

"By integrating JPY, Helix empowers users across Injective exchange dApps to gain exposure to on-chain FX within a fully decentralized ecosystem,” said Chris Choi, Head of Product at Helix. “This is another step forward in Helix's commitment to democratize financial access, offering users unprecedented access to a wide range of financial instruments.”

The listing comes at a time of unprecedented growth for Helix. The platform has experienced an exponential surge in trading volumes, recently surpassing $200 million in daily trading volume on its fully on-chain orderbook exchange. Helix also continues to expand its offerings, introducing a number of new markets such as Layer Zero pre-launch futures within the past week alone. “We are thrilled to be working alongside Helix to continue bringing unmatched access for on-chain RWA products. Helix’s bespoke infrastructure, combined with the institutional offerings brought by Cables Finance, will continue to pave the way forward in bringing more currencies to a decentralized FX market,” said Ben Goldberg, Head of Product at Cables. 

Helix continues to redefine the landscape of decentralized finance, and the introduction of the Japanese Yen forex pair is a testament to its commitment to innovation and inclusivity. As Helix continues on its growth, it remains dedicated to pushing the boundaries of what is possible in the world of decentralized trading.

This post is for informational purposes only and is not financial advice or an endorsement of any project or application.  

About Helix

Helix is the premier decentralized crypto exchange. Helix provides access to unlimited crypto assets and perpetual markets with market leading rebates. Best-in-class security, near zero fees, lightning fast speeds, cross-chain capabilities and a fully on-chain orderbook on Helix provide the optimal gateway to bring crypto trading to the masses. Helix is built on Injective, the interoperable layer one blockchain for building powerful exchange, DeFi, derivatives & Web3 applications.

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About Cables Finance

Cables is revolutionizing the aging and monopolized foreign exchange (FX) industry and strengthen the young cryptocurrency trading industry by bringing blockchain rails to the FX market and FX liquidity and trading products to the stablecoin market. Cables exists at the intersection of the maturing centralized exchange industry and the growing decentralized exchange industry. By bridging established centralized technology with the transparency and efficiency of decentralized technologies, Cables is able to create a blended, balanced, and trusted ecosystem for finance to be executed on-chain. 

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