The first stablecoin approved by US regulatory authorities

Gemini, the cryptographic exchange operated by the Winklevoss brothers, announced on September 10 (local time) that it has been approved by the New York State authorities to issue its own Staples coin, which is linked at a 1: 1 ratio with the US dollar.

The name of this stable bloke is Gemini dollar (GUSD). It was approved by the New York Financial Services Authority (NYDFS). The dollar linked with the etherium network is checked monthly by a listed audit corporation registered with an independent agency that has sufficient dollar balance using the circulation of US banks. The Gemini dollar will be available on the 10th.

Brother Winkleboss argues that the Gemini dollar could bridge the gap between traditional banking systems and cryptographic systems. The current cipher money can be traded 24 hours a day, 365 days a day, while legal time is only available during business hours. For more information, please click here .