BREAKING: The Winklevoss twins launched the World's First Regulated Stablecoin today.
BREAKING: The Winklevoss twins launched the World's First Regulated Stablecoin today.
Winklevoss twins just announced a stablecoin backed by USD - Gemini Dollar. The Gemini dollar, which will be pegged to the U.S. dollar at 1:1, is set to become the world’s first regulated stablecoin and seeks to allow users to send and receive U.S. dollars on the ethereum network, using ERC20 tokens.
Also, the Ethereum-based token is:
- Approved by NY Department of Financial Services
- Dollars held in FDIC-insured State Street account
- Audited by multiple third-parties at various times
Since, Tether wasn't doing much to help legitimize the crypto asset class, this is going to be one major step towards Crypto adoption. One step at a time indeed.
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