GUSD, issued by Gemini Trust Company, LLC, is a U.S. dollar-backed stablecoin that represents a digital U.S. dollar pegged one-to-one to the U.S. dollar (USD) and redeemable 1 GUSD for 1 USD on the Gemini platform [S1][S2][S3].

Each GUSD corresponds to one U.S. dollar (USD) held in eligible reserve assets, fully backed on a 1:1 basis by cash and cash equivalents [S1][S2]. GUSD is a price-stable dollar representation, not an income-bearing product, and the issuer discloses no yield, NAV accrual, or distribution to holders [S1][S2]. Users can convert USD to GUSD and back for free, with no minting, redemption, or management fees disclosed [S1].

Gemini Trust Company, LLC is a New York limited purpose trust company, a fiduciary and qualified custodian chartered by the New York State Department of Financial Services (NYDFS), which has regulated GUSD since its first issuance on September 9, 2018 [S1][S2][S3]. The holder's claim is a dollar-backed stablecoin, redeemable 1 GUSD for 1 USD at any time [S1][S3]. Access requires a Gemini account with KYC and AML screening [S1]. Reserve accounts are segregated for the benefit of customers, and the cash portion may be eligible for FDIC pass-through insurance [S1][S3].

GUSD is an ERC-20 token on Ethereum, with the smart contract independently audited by Trail of Bits [S1][S2][S3]. Tokens are minted when bought with USD on Gemini and destroyed when sold back, at a 1:1 rate [S1]. Reserves are held at State Street, Goldman Sachs, or Fidelity, with monthly attestations by BPM [S1][S3].

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  items={[
    { id: "S1", url: "https://www.gemini.com/dollar" },
    { id: "S2", url: "https://www.gemini.com/cryptopedia/gusd-stablecoin-gemini-dollar" },
    { id: "S3", url: "https://www.gemini.com/blog/exploring-gemini-dollar-gusd-a-regulated-and-secure-u-s-dollar-backed" },
  ]}
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Stablecoins

Users deposit funds into Gemini account and receive GUSD at a 1:1 rate.

Gemini is a financial technology company that is the principal architect of GUSD - full-reserve fiat stablecoin that brings US dollar liquidity on-chain.

Gemini is a private company. Gemini's investors include Draper Dragon, Electric Feel Ventures etc.

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Stablecoin issuers

Gemini

Gemini Dollar (GUSD) is a U.S. dollar stablecoin issued by Gemini through Gemini Trust Company, LLC.

Each token is redeemable one-for-one for U.S. dollars and is a direct claim on the issuer.

Reserves are held in accounts segregated from the issuer's own funds, attested monthly by BPM LLP.

Retail investors and institutions can mint and redeem directly with Gemini in USD after completing KYC, and holders have a contractual right to redeem at par.

Gemini Trust Company, LLC is incorporated in the United States, operates under a U.S. state trust charter, and is supervised by the New York State Department of Financial Services (NYDFS).

Holder terms are governed by the law of New York in the United States.

GUSD has been issued on Ethereum as an ERC-20 token since September 2018.

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