Gemini, a digital asset custodian and exchange established in February of 2014, is the creator of the Gemini Dollar (GUSD). In September of 2018, the New York Department of Financial Services (NYDFS) granted approval for the launch of this stablecoin. To maintain parity, The Gemini Trust Company keeps USD deposits equal to the volume of tokens currently in circulation.

Technically, GUSD is an ERC-20 token operating on the Ethereum network, with its smart contracts undergoing audits by the security firm Trail of Bits Inc. Because it is fully regulated by the NYDFS, this stablecoin aims to connect traditional finance with the cryptocurrency sector.

Tyler Winklevoss and Cameron Winklevoss established the Gemini Dollar (GUSD).

Tyler serves as the co-founder and CEO of Gemini, president of WinkDex, and co-founder of Winkevoss Capital. He also acts as an advisor for Rowing Blazers.

Cameron holds the roles of co-founder and president at Gemini, CEO of WinkDex, and co-founder of Winkevoss Capital. Like his brother, he is an advisor at Rowing Blazers.

Both brothers earned a Bachelor of Economics from Harvard University in 2004 and later obtained a Master of Business Administration (MBA) from the University of Oxford Saïd Business School.

Gemini Dollar holds the distinction of being the first stablecoin backed by the U.S. dollar to receive support from a U.S. regulatory entity. It operates as an ERC-20 token on the Ethereum network.

Unlike Bitcoin and other conventional cryptocurrencies that experience significant price volatility, Gemini Dollar is engineered to keep its value constant. This stability is typically achieved by linking the token’s worth to underlying assets like fiat currencies (USD, EUR) or gold, or through advanced computation. The asset aims to create a transparent, regulation-compliant bridge between traditional finance and the broader blockchain sector.

Gemini Dollar is available for trading on 41 exchanges and reached a peak price of $1.3435. To confirm the required 1:1 peg is supported by dollars, LLP, BPM, and independent registered public accounting firms review the deposit balance at Gemini’s U.S. bank every month.

Gemini Dollar (GUSD) operates as an ERC-20 token on the Ethereum network, with its smart contracts undergoing audits by the security firm Trial of Bits Inc.

Private keys for signing transactions are stored offsite within secure, guarded, and geographically dispersed facilities using a cloud storage system. These keys reside on hardware security modules (HSMs) that comply with or surpass U.S. government computer security benchmarks, specifically FIPS 140–2 Level 3.

The system also employs multisignature (multisig) technology to enhance fault tolerance and provide an additional defense against attacks. Transferring funds from cloud storage requires multiple signatories, meaning that neither Tyler Winklevoss nor Cameron Winklevoss can move customer funds into or out of the hot wallet or cloud storage system, either individually or together.

You can buy, sell, and trade Gemini Dollar (GUSD) on a number of exchanges, such as: