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What is Gemini Dollar coin (GUSD) and how does it work?

by Financial Economy

Gemini Dollar is a stable cryptocurrency issued by Gemini, which is among the popular cryptocurrency exchanges of the USA. 1 Gemini Dollar is issued to be equal to 1 USD. Detailed information on what is Gemini Dollar coin GUSD is and how does it work, how to buy it, how much it costs, what it does, etc. is located in the continuation of the news. You can browse here for information about Ecomi coin (OMI).

What is Gemini Dollar coin (GUSD) and how does it work?

The cryptocurrency, called the Gemini Dollar (GUSD), was developed to provide liquidity to users who intend to send and receive dollars over the Ethereum network. Gemini exchange states that it holds dollar deposits as much as GUSD in circulation and pegs the Gemini Dollar to the dollar.

The founder of the company, the Winklevoss brothers, made statements about the dollar-backed cryptocurrency Gemini Dollar. Tyler Winklevoss of the twins announced on his Medium account that they have received the necessary permissions from the New York Department of Financial Services for a new ERC-20-based dollar-backed cryptocurrency.

GUSD is a cryptocurrency pegged to the dollar. To protect its investors, Gemini said it will store dollar deposits with State Street Bank and insure them through the Federal Deposit Insurance Corporation’s (FDIC) deposit insurance program.

Where to buy Gemini Dollar (GUSD) and how much does it cost?

Gemini Dollar (GUSD) is listed on many crypto currency exchanges, especially Binance. GUSD can be purchased from the exchanges where it is listed, but before trading, it should be noted that the exchange is a reliable and well-known exchange.

Since the Gemini Dollar is a stable coin pegged to the US dollar, its price is around $1. The supply of GUSD circulating in the market is 292,118,198 GUSD. This number also represents the total supply of GUSD.

Note: The information contained in this content is for informational purposes only. It is not investment advice.

For information about crypto currency: https://en.wikipedia.org/wiki/Cryptocurrency

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