The largest crypto-holders, the Winklevoss brothers, took on the mission to provide the fiat currency with the technological qualities of cryptocurrencies.
To date, there has been no reliable and adjustable digital representation of the US dollar, which has the ability to move open, decentralized way, as cryptocurrencies. Gemini dollar (GUSD) is a stablecoin built on Ethereum, which is strictly tied in a ratio of 1: 1 to the US dollar. The digital dollar combines creditworthiness and price stability of the dollar with blockchain technology and supervision by US regulators.
Since September 10, it has been possible to convert US dollars in the Gemini account to Gemini Dollar and withdraw them at the user-specified Ethereum address. It is also possible to convert Gemini Dollar to US dollars automatically by adding it to your Gemini account.
It is interesting that almost immediately Gemini Dollar (GUSD) was listed on the large Chinese exchange Bibox. Since September 16, trading GUSD to ETH and BIX is available.