Gemini Dollar (GUSD)
19 hours agoThe Gemini Dollar (GUSD) is a stablecoin developed by Gemini Trust Company (Gemini), a centralized cryptocurrency exchange located in New York that facilitates the buying, selling, and storage of digital assets.
The Gemini Dollar is backed 1:1 by USD. For every GUSD purchased, an equivalent of $1 USD is held in reserves by Gemini.
This stablecoin serves as a link between the cryptocurrency markets and traditional finance.
GUSD is an Ethereum ERC-20 token, making it suitable for smart contract development.
As a result, the Gemini Dollar (GUSD) can be traded on decentralized exchanges (DEX), enabling users to lend and earn through various DeFi applications and services.
Additionally, GUSD can be utilized to provide liquidity to different DeFi automated market makers (AMM) and liquidity pools (LP).
The Gemini Dollar is fully regulated by the New York Department of Financial Services (NYDFS).
Moreover, GUSD reserves are audited on a monthly basis by an independent auditing firm called Trail of Bits Inc.
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