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Gemini Dollar

The Gemini Dollar stablecoin (GUSD) is a standout amongst the latest stablecoins to be released. The coin was issued on September 10, 2018, by the Gemini cryptocurrency exchange, which is driven by the Winklevoss twins. It is an ERC-20 token based on the Ethereum blockchain and as per its whitepaper, it is intended to be "entirely backed 1:1 to the U.S. dollar."

Since its value is attached to the U.S. dollar, Gemini is required to utilize a State Street bank to hold the USD resources and has gotten FDIC protection inside specific limits of confinement for their product.

What makes this stablecoin novel is that it will be regularly independently audited by BPM Accounting and Consulting. The audits will have the job of guaranteeing that Gemini is holding the equal measure of U.S. dollars for its GUSD possessions, and the aftereffects of each audit will be made public.

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