Institutions
INSTITUTIONAL PRODUCTS
WHO WE SERVE
Gemini dollar™
Combining the creditworthiness and stability of the U.S. dollar with the speed and efficiency of blockchain technology.
Dollars
Price stability, Pass-through FDIC insurance, Real-world transactions
Gemini Dollar
Crypto
24x7x365 availability, Global access, Instant settlement, DeFi applications
GUSD
A Bridge to the Future of Finance
Gemini dollar (GUSD) is a U.S. dollar-backed stablecoin —a digital representation of cash that can be used to interact with the crypto economy. GUSD combines the creditworthiness and price stability of the U.S. dollar with the speed and efficiency of cryptocurrency.
Technical Overview
GUSD is an Ethereum-based ERC-20 token, fully programmable and ready for use in smart contract development. Review the Gemini dollar smart contract here.
GUSD Use Cases
The Internet Economy
At its core, GUSD is a digital representation of a U.S. dollar, and there are a variety of ways you can use it.
Spend
Buy digital art with digital dollars. NFTs from your favorite artists on Nifty Gateway or OpenSea can be bought and sold with GUSD.
U.S. customers can earn unlimited 3% back on dining with no annual cap, 2% back on groceries and 1% back on all other purchases with the Gemini Credit Card®. Explore the Gemini Credit Card here. Terms and conditions apply.*
*A Gemini Mastercard®. Issued by WebBank. Terms Apply. Engaging with crypto involves risks, including the risk of losing all of the invested amount; seek expert advice. Past performance no guarantee of future results.
Save
Is crypto price volatility making you retreat to fiat? Build a stable reserve without moving your assets off-chain. It’s more cost effective and efficient than traditional finance.
Trade
Generate financial returns based in a more familiar currency by trading, investing, lending, or staking GUSD. GUSD can be transferred and traded in seconds and is settled on the Ethereum blockchain. Use GUSD to trade and stake across DeFi protocols, and provide liquidity on automated market makers and other liquidity pools.
Pay
With 24x7x365 availability and blockchain efficiency you can pay your employees, partners, vendors, or friends for a fraction of the cost of using the traditional banking system. Anytime, anywhere, instantly.
Why GUSD?
Regulated from day one
GUSD has been fully regulated by the New York State Department of Financial Services (NYDFS) since 2018, making it one of the world’s first regulated stablecoins.
Always redeemable for USD
Every single GUSD in circulation is fully backed by cash or cash equivalents held across bank accounts, money market funds, and US treasury bills. Gemini customers can always redeem 1 GUSD for $1 on Gemini at any time.
Monthly attestations of cash reserves
No compromises: Attestations of GUSD’s reserves are published monthly by an independent registered accounting firm, BPM LLP. In addition to these monthly attestations, BPM LLP conducts attestation examinations on one randomly-selected business day each month.
Simple no-fee conversions
Users can easily convert USD to GUSD for free. Log in to the Gemini mobile app and on the Market page, tap GUSD to convert fee-free.
Secure and transparent code
Being built on the Ethereum blockchain means that anyone can view the total number of GUSD in circulation at any time on Etherscan. The Ethereum smart contract has been audited by Trail of Bits, a leading information security research and development firm. See the full audit, or review the smart contract code directly on Github.
Under the Block: GUSD in Action
Gemini keeps your USD safe in a mix of cash and cash equivalents. These assets are held in a segregated account from the time you deposit until the time you withdraw.
Sign up for Gemini and buy GUSD with USD. You can also convert crypto into GUSD.
Gemini mints your digital dollar (GUSD) on the Ethereum blockchain and keeps your USD safe in a segregated account until you ask for them back.
Use your GUSD all across the crypto economy.
Ready to convert back to cold hard cash? Gemini will burn the digital token and return your dollars back to you in full.
Supported across dozens of DeFi protocols, applications, and exchanges
Transparency builds trust
FDIC Insurance
Each GUSD corresponds to a U.S. dollar that is held by Gemini as one of the following types of assets:
Deposits in U.S. Federal Deposit Insurance Corporation ("FDIC")-insured banks
Money market funds, invested only in U.S. Treasury obligations
U.S. Treasury obligations
The cash portion of these GUSD reserves, which may be held at State Street Bank and Trust Company, Goldman Sachs, or Fidelity, may be eligible for FDIC “pass-through” insurance for Gemini customers in the event that the bank holding such U.S. dollar cash deposits becomes subject to resolution or similar proceedings by the FDIC.
Monthly reserve asset attestations
From day one, Gemini has prioritized the security of your assets. We never have and never will compromise on that. Monthly reserve asset attestations are one way to maintain this promise – here is an overview of how GUSD is examined each month.
Gemini makes an assertion that, as of a specific date and time, we’re holding an amount of USD in reserve that matches the amount of GUSD in circulation. That is Section II of the reports listed below.
BPM, an independent accounting firm, performs an examination and collects evidence to test whether that assertion is accurate.
BPM issues an opinion that says "the assertion that Gemini made in Section II is fairly stated."