Gemini Launches Gemini Dollar - U.S. Dollars On Blockchain

  • Gemini Launches Gemini Dollar - US Dollars On Blockchain

KYIV (FNI) - Representatives of the crypto exchange Gemini announced the release of stebblecoin based on the Ethereum network, which is supported by US dollars.

The New York City Financial Services Department (NYDFS) has reviewed and approved the idea of ​​creating a Gemini currency, which, according to the company's blog, has become the first regulated stebblecoin in history. The cost of the new crypto currency will be equal to the price of the US dollar. With its help, Gemini hopes to provide sufficient liquidity and conduct dollar transactions in the network of the Etherium. Deposits in US dollars of the Gemini Trust holding will correspond to the number of tokens in circulation.

Gemini's stablcoin is part of the company's co-founders strategy to create "future money" and has become the missing link between the traditional financial system and crypto-economics, said Tyler Winklevoss, co-founder and CEO of Gemini Trust.

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