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. GUSD is an Ethereum-based ERC-20 token, fully programmable and ready for use in smart contract development. 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.

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.