BitMart Exchange, a global digital asset trading platform, recently announced the listing of Gemini Dollar (GUSD), a stable value coin (often called a “stablecoin”).
The Gemini Dollar (GUSD) is an ERC20 stablecoin issued by Gemini Trust Company, LLC. It was strictly pegged 1:1 to the U.S. dollar and approved by The New York State Department of Financial Services (NYDFS).
GUSD is the world’s first regulated stablecoin, with oversight from US regulators. This move aims to ensure BitMart users have a reliable stablecoin to deal with and offer traders more liquidity.
A stablecoin is an asset that has low volatility against the world’s most important national currencies. In the cryptocurrency world, it isn’t always easy to circulate dollars due to regulations and restrictions. Since launching, GUSD has been listed on an array of leading exchanges. GUSD’s trading volume has doubled while the trading volume of Tether (USDT) has declined.
“BitMart’s mission is to offer secure financial services and high liquidity ratio in the crypto trading market. As Tether has been losing its grip in the market ever since it lost its peg against the USD, GUSD is doing relatively well.”