The Gemini dollar — the world’s first regulated stablecoin — combines the creditworthiness and price stability of the U.S. dollar with blockchain technology and the oversight of U.S. regulators.
The Gemini dollar is a cryptographic token that is issued by a New York trust company, strictly pegged 1:1 to the U.S. dollar, and built on the Ethereum network according to the ERC20 standard for tokens. The Gemini dollar is a stable value coin that combines the creditworthiness and price stability of the U.S. dollar with the technological advantages of a cryptocurrency and the oversight of U.S. regulators. As an ERC20 compliant token, the Gemini dollar can be transferred on the Ethereum network. Gemini dollars are created at the time of withdrawal from the Gemini platform and redeemed or “destroyed” at the time of deposit into the Gemini platform.