CEX.IO has always stood for innovative ideas in the crypto sphere. We welcome any improvements in the world of crypto, which is why we’re happy to introduce support for Gemini Dollar (GUSD), a stablecoin backed by USD, on CEX.IO.
Verified users will now be able to trade the GUSD/USD and GUSD/EUR pairs for their benefit.
What is Gemini Dollar?
The Gemini Dollar token is issued by the Gemini Trust Company, founded by Cameron and Tyler Winklevoss. The Winklevoss brothers are the world’s first Bitcoin billionaires. In 2014, they founded an online exchange called Gemini to make crypto purchases as simple and secure as possible. As the next step, Gemini decided to build a strong link between cryptocurrency and the traditional financial system.
Gemini Dollar as a stablecoin
Gemini Dollar is a token that combines the stability of the US dollar with the nature of cryptocurrencies. Such tokens are called stablecoins. They serve as a hedge against volatility observed by cryptocurrencies like Bitcoin and Ethereum. They can be a great choice for those looking for a golden middle between crypto and traditional financial systems, so they’ve attracted much attention in the cryptocurrency community.
Built as an ERC20 token on the Ethereum network, Gemini Dollar will be overseen by the New York Department of Financial Services (NYDFS). With this regulatory framework and regular audits, the token is designed to be trustworthy.
Using Gemini Dollar
Gemini Dollar can be a great choice for transferring money between exchanges supporting the cryptocurrency. This new coin enables:
- fast transfers in Gemini Dollar between exchanges and wallets;
- high trust due to the legal support and stability of the coin;
- keeping funds in a stable cryptocurrency backed by the US dollar.
We believe that adding GUSD support to CEX.IO will provide you with new opportunities and improve your trading experience.