RATE Group | Winklevoss’ Gemini Launches U.S. Dollar-Pegged Cryptocurrency
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Winklevoss’ Gemini Launches U.S. Dollar-Pegged Cryptocurrency

10 Sep Winklevoss’ Gemini Launches U.S. Dollar-Pegged Cryptocurrency

Posted at 14:52h in Cryptocurrency News by

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Winklevoss

Gemini, the cryptocurrency exchange founded by Cameron and Tyler Winklevoss, has announced the creation of a USD-pegged Ethereum token that looks to supplant tether (USDT) as the stablecoin of choice among bitcoin traders.

Gemini Launches Tether Competitor

Announced on Monday, the Gemini dollar (GUSD) aims to become what the controversial tether token has not, a “trusted and regulated digital representation” of the U.S. dollar that can be transmitted across the blockchain and traded on cryptocurrency exchanges located throughout the world.

“To date, there has been no trusted and regulated digital representation of the U.S. dollar that moves in an open, decentralized manner like cryptocurrencies,” Gemini wrote in the announcement, which was attributed to Cameron Winklevoss. “The Gemini dollar (ticker symbol: GUSD) combines the creditworthiness and price stability of the U.S. dollar with blockchain technology and the oversight of U.S. regulators, namely, the New York…

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