Gemini, operated by the Gemini Trust Company, emerged in February 2014 as a digital currency exchange and custodian enabling the purchase, sale, and safekeeping of digital assets. The GUSD, the cryptocurrency Gemini Dollar, is established by this exchange.
Approval from the New York Department of Financial Services (NYDFS) was granted to launch the stablecoin in September 2018. Gemini Trust Company holds USD deposits equivalent to the circulating token volume.
The Gemini Dollar, an ERC-20 token operating on the
Ethereum network, features audited
smart contracts by security firm Trail of Bits Inc.
This particular stablecoin, the Gemini Dollar, is designed to bridge the gap between conventional finance and the crypto industry. Its unique distinction lies in being fully regulated by the NYDFS, solidifying its compliance within the regulatory framework.