Gemini dollar
The Gemini dollar (GUSD) is a cryptocurrency stablecoin issued by the Gemini exchange, as well as tradable on 25 other exchanges.[1][2] They are pegged, or interchangeable, with the value of an asset like gold or a fiat currency, similar to Tether. They are considered a form of stablecoin.[3][4]
Background[edit]
In September 2018, Gemini Exchange received approval from the New York Department of Financial Services to launch the Gemini dollar, which was backed by funds held at the State Street Corp.[5]
Gemini dollar prices broke the peg to the U.S. dollar on October 15 and 16, 2018, hitting $1.14 and $1.19, on the respective dates[[.[6] By October 19, the Gemini dollar price had receded to $1.01.[7] Later that month, Cameron Winklevoss wrote on the company's official blog that GUSD had been adopted by 25 exchanges.[8]
References[edit]
- ↑ Winklevoss Twins Receive New York Approval to Launch New Crypto Coin. Gemini.
- ↑ Gemini dollar (GUSD) Is Now Supported by 25 Exchanges. Gemini.
- ↑ What's The Difference Between A Software Product And A Platform?. Forbes.
- ↑ Maduro’s Petro cryptocurrency will be an official currency in Venezuela – like the Bolivar. The Next Web.
- ↑ Winklevoss Twins Receive New York Approval to Launch New Crypto Coin. Bloomberg.
- ↑ Winklevoss-Backed Stablecoin Soars Above $1 as Tether's Market Cap Plunges. Coindesk.
- ↑ 24 Hour Volume Rankings (Currency). CoinMarketCap.
- ↑ Gemini dollar (GUSD) Is Now Supported by 25 Exchanges. Gemini.