Gemini Dollar

Gemini Dollar
The Gemini Dollar (GUSD) is a stablecoin pegged to and backed by US dollars held in FDIC-insured bank accounts. The funds held in reserves are routinely audited by the accounting firm, BPM LLP.GUSD was created by cryptocurrency exchange Gemini, which was founded by Cameron and Tyler Winklevoss in 2014. Gemini received approval from the New York Department of Financial Services (NYDFS) to launch its stablecoin in 2018. The company has claimed that GUSD is the first regulated stablecoin, though Paxos also launched a NYDFS regulated stablecoin the same day. The Gemini Trust Company LLC holds USD deposits that correspond to…