About the coin

The Gemini dollar (GUSD) is a stablecoin that was introduced as the world's first regulated stablecoin. It is designed to combine the creditworthiness and price stability of the U.S. dollar with the innovative technology of blockchain. The Gemini dollar is issued by Gemini Trust Company, LLC, a New York trust company, and is strictly pegged 1:1 to the U.S. dollar.

Main features

The Gemini dollar operates on the Ethereum network and adheres to the ERC20 token standard. This ensures compatibility with a wide range of Ethereum-based applications and wallets. The U.S. dollars that correspond to the Gemini dollars issued and in circulation are held at a U.S. bank and are eligible for FDIC pass-through deposit insurance, subject to applicable limitations. The U.S. dollar deposit balance is examined monthly by an independent registered public accounting firm to verify the 1:1 peg.

How it works

Users can convert U.S. dollars in their Gemini account into Gemini dollars and withdraw them to an Ethereum address. Conversely, they can also convert GUSD back into USD within their Gemini account. The Gemini dollar smart contracts have undergone a security audit by Trail of Bits, Inc., ensuring the robustness and security of the token. The Gemini dollar aims to provide a stable and secure digital currency option, leveraging the oversight of U.S. regulators, including the New York State Department of Financial Services.