The Gemini Dollar (GUSD) is a stablecoin created by Gemini Trust Company (Gemini), a digital centralized cryptocurrency exchange (CEX) based out of New York, that allows you to buy, sell and store digital assets.
The Gemini dollar is 1:1 USD-backed.
For every 1 GUSD that you buy, there is the equivalent USD $1 held in reserves by Gemini.
The dollar acts as a bridge between the crypto markets and traditional finance.
GUSD is an Ethereum ERC-20 token, which can be used in smart contract development.
As such, the Gemini dollar (GSUD) can be transacted with on decentralized exchanges (DEX), allowing you to lend and earn using various DeFi apps and services.
GUSD can also be used to provide liquidity to various DeFi automated market makers (AMM) and liquidity pools (LP).
The Gemini Dollar is completely regulated by the New York Department of Financial Services (NYDFS).
GUSD reserves are audited monthly by an independent auditing firm named Trail of Bits Inc.
