### What is Gemini Dollar?

Gemini Dollar (GUSD) is a stablecoin created by Gemini Trust Company, a New York-based cryptocurrency exchange. Each Gemini Dollar is backed 1:1 by U.S. dollars held in reserve, ensuring its stability and maintaining a fixed value equivalent to the USD.

### How does Gemini Dollar work?

Gemini Dollar operates as an ERC-20 token on the Ethereum blockchain, which facilitates its use in smart contracts and decentralized applications. The system consists of several smart contracts, including 'Proxy', 'Impl', and 'Store', where 'Proxy' manages public interactions, 'Impl' controls the internal logic, and 'Store' maintains the ledger. The token issuance is tightly controlled to align with the USD reserves, with regular audits ensuring transparency and compliance. 

### What are the potential use cases for Gemini Dollar?

Gemini Dollar offers various use cases, including facilitating remittances and cross-border payments, enhancing financial accessibility and inclusivity, conducting secure and efficient digital transactions in eCommerce, providing financial empowerment for the unbanked, supporting microfinance and peer-to-peer lending, and enabling trading and various DeFi applications. Partnerships with exchanges and platforms further broaden its utility.

### What is the history of Gemini Dollar?

The Gemini Dollar was launched in September 2018 by Gemini Trust Company, LLC, a cryptocurrency exchange founded by Cameron and Tyler Winklevoss in 2014. Its introduction marked a significant step towards bridging traditional finance and the crypto industry, being one of the first regulated stablecoins with backing by real USD in FDIC-insured accounts. Since its launch, GUSD has seen adoption across various platforms and maintains a strong presence in the stablecoin market.

Gemini Dollar

Deposits are not currently available for this coin.

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