About Gemini dollar (GUSD)
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Gemini dollar™ is a stablecoin that combines the creditworthiness and price stability of the U.S. dollar with the technological advantages of a cryptocurrency. Gemini dollar is issued by Gemini, a New York trust company regulated by the New York State Department of Financial Services.
Gemini dollar is audited on a monthly basis by BPM, a private and independent accounting firm, that ensures there is parity between the amount of USD in reserve and the amount of GUSD in circulation. To further maintain transparency, the GUSD ledger itself is stored on the Ethereum blockchain. By storing GUSD on the Ethereum network, all parties can openly view the total number of GUSD in circulation at any time. The GUSD Ethereum smart contract has also been audited by Trail of Bits, a leading information security research and development firm.
Gemini dollars are created when they are bought with U.S. dollars on Gemini and redeemed when they are sold for U.S. dollars on Gemini. GUSD is also available to trade and custody on a number of other exchanges and is supported by many projects in the crypto ecosystem. Gemini implements a number of security measures — including full KYC (Know Your Customer) and AML (Anti-Money Laundering) screening — to ensure that GUSD remains transparent, secure, and regulated for its users.
Gemini dollar is a cryptographic token built on the Ethereum network according to the ERC-20 standard, and is strictly pegged 1:1 to the U.S. dollar. As an ERC-20 compliant token, the Gemini dollar can be transferred on the Ethereum network.
Learn more about Gemini dollar on Cryptopedia:
Gemini Dollar (GUSD): A Transparent Stablecoin
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The pricing data and asset description above are for general informational purposes only and are not investment advice. Buying, selling, and trading cryptocurrency involves risks. You should consult with your own appropriately qualified and licensed advisors before engaging in any transaction on Gemini. Some data is provided by Messari, a third party that is not affiliated with Gemini.