Gemini Dollar

The Gemini Dollar (GUSD) is a stablecoin cryptocurrency which aims to maintain a value equivalent to that of the U.S. dollar, i.e., one GUSD equals one USD. It is an ERC-20 token on the Ethereum blockchain, which means it utilizes the protocol set forth by Ethereum for tokens launched on its platform. GUSD is an attempt to harness the benefits of blockchain technology and cryptocurrency while maintaining the stability and trust associated with a fiat currency like the U.S. dollar.

*Project/Platform*

GUSD is a project by Gemini Trust Company, LLC, a digital asset exchange and custodian that allows customers to buy, sell, and store digital assets. Gemini, the platform that issues GUSD, is a New York trust company that is subject to the capital reserve requirements, cybersecurity requirements, and banking compliance standards set forth by the New York Department of Financial Services and the New York Banking Law.

GUSD is primarily used as a medium of exchange, and it allows for the transfer of value across the internet without the need for traditional banking systems. Due to its 1:1 peg with the U.S. dollar, it is also utilized as a stable store of value in the volatile crypto markets. In addition, the Gemini Dollar can be used to purchase other cryptocurrencies on the Gemini platform, or any other platform that accepts it. Lastly, GUSD can provide a method of transferring U.S. dollars globally with the speed and cost-effectiveness inherent in blockchain transactions.