The cryptocurrency trading platform Liquid will be listing the Gemini Dollar (GUSD). The Liquid virtual asset market is owned by the Japanese company Quoine. The main intention behind the partnership is to bring stability and liquidity to the cryptocurrency market. The information was released by Liquid in a blog post a few days ago.
Liquid Supports Gemini USD
In the press release, Liquid informed that it teamed up with Gemini Trust Company to bring liquidity and stability to the crypto space. That means that the Gemini Dollar will be listed on Liquid. As per the official release, Liquid is one of the largest fiat-crypto platforms by trading volume.
The Gemini USD is a stablecoin launched by the Gemini exchange back in September. The GUSD is known as the world’s first regulated stablecoin. The cryptocurrency exchange Gemini is owned by the Winklevoss twins, very active players in the industry.
According to Mike Kayamori, Liquid CEO, this partnership will put transparency, regulation and compliance at the forefront of their operations.
About it, Kayamori said:
“The Gemini dollar is an obvious choice for Liquid. Both Liquid and Gemini put transparency, regulation and compliance at the forefront of our operations. We are proud and honoured to be able to offer Liquid customers the opportunity to use a stablecoin that can stand up to regulatory scrutiny. We will now explore the opportunity to develop a JPY-pegged stablecoin.”
GUSD will be available for trading on the Liquid exchange against Bitcoin (BTC) and Ethereum (ETH). Nevertheless, the company explained that the intention is to add new trading pairs at the exchange. The announcement does not inform the exact date of the listing of this stablecoin. Quoine has a permit to operate from Japan’s Financial Services Agency (FSA).
There are other stablecoins in the market. During the last months, Tether (USDT), perhaps the most known stablecoin, has been facing different issues with its funds. After all the problems this stablecoin had, other companies decided to launch new coins. GUSD is one of them. Other stablecoins are True USD (TUDS), Paxos Standard (PAX) or USD Coin (USDC), which is backed by Circle.
Other platforms such as Coinbase or Binance decided to back different stablecoins.
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.