The Gemini stablecoin is already making market moves. After launching just this week, Gemini announced that Bibox will be listing the Gemini dollar (GUSD). This will be the first official partnered exchange to add support for GUSD.
Gemini Dollars Starts its Expansion
GUSD is starting to expand in the virtual currency industry. Bibox is an AI-enhanced and encrypted virtual currency exchange platform. This is very important for Gemini because GUSD has been launched just some days ago and the listing represents a real interest from the community.
The Winklevoss twins announced the Gemini Dollar as the world’s first regulated stablecoin. With it, the twins want to bridge the gap between the cryptocurrency and fiat world. Bibox adding support to GUSD is the first important achievement of this virtual currency.
Bibox wrote on twitter:
“We are so excited to be the first official partnered exchange to list GUSD, congrats!”
Gemini is one of the most important virtual currency exchanges all over the world. It allows users to buy, sell and store cryptocurrencies. The company was founded by Cameron and Tyler Winklevoss back in 2014.
About the Gemini Dollar, the platform commented:
“To date, there has been no trusted and regulated digital representation of the U.S. dollar hat moves in an open, decentralized manner like cryptocurrencies. […] The Gemini dollar 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 State Department of Financial Services (NYDFS).”
According to the company, the U.S. dollars that are related to the Gemini dollars issued and in circulation will be held at a bank in the United States. Moreover, it will be eligible for FDIC “pass-through” deposit insurance.
The GUSD will be providing a link between the traditional banking system and the crypto world. Gemini says that it wants ‘to build the future of money.’ With GUSD listing on Bibox they are one step closer to do it.
Currently, Gemini is the 49th most traded-on exchange in the market with $24 million dollars transacted in the last 24 hours. The highest volume trading pair is BTC/USD with 53% of the trading volume at the platform.
Carlos is an international relations’ analyst specializing in cryptocurrencies and blockchain technology. Since 2017, Carlos has written extensively for UseTheBitcoin and other leading cryptocurrency sites; with over 2,000 articles published.