On September 10, 2018, the New York Department of Financial Services (NYDFS) simultaneously approved two stablecoins based on Ethereum, namely Gemini Dollar and Paxos Standard. These two stablecoins are encrypted digital currencies that are anchored 1:1 with the U.S. dollar. These two digital currencies will be supervised by the U.S. government, and account funds will be audited every month. If there is a problem with the account, the U.S. government can enforce the law. Means to freeze and other operations. Gemini Dollar is the first cryptocurrency issued by Gemini Trust Company. It is a token issued through the Ethereum blockchain. It is backed by U.S. dollars. The anchor ratio is 1 GUSD = $1, and an independent certified public accountant will meet It conducts monthly review and regularly publishes review reports, thus ensuring that it has the stability of legal tender and the speed and borderless characteristics of cryptocurrency.
On September 10, 2018, the New York Department of Financial Services (NYDFS) simultaneously approved two stablecoins based on Ethereum, namely Gemini Dollar and Paxos Standard. These two stablecoins are encrypted digital currencies that are anchored 1:1 with the U.S. dollar. These two digital currencies will be supervised by the U.S. government, and account funds will be audited every month. If there is a problem with the account, the U.S. government can enforce the law. Means to freeze and other operations. Gemini Dollar is the first cryptocurrency issued by Gemini Trust Company. It is a token issued through the Ethereum blockchain. It is backed by U.S. dollars. The anchor ratio is 1 GUSD = $1, and an independent certified public accountant will meet It conducts monthly review and regularly publishes review reports, thus ensuring that it has the stability of legal tender and the speed and borderless characteristics of cryptocurrency.
