Stablecoins, the cryptocurrencies with the price pegged to this of some traditional currency (like USDT), were initially designed as the solution which merges the merits of crypto and real world asset. Most commonly, people use stablecoins as the liquidity and risk protection solution. Particularly it is useful in the situations and jurisdictions where the fiat-to-crypto-transactions are not an option. We have already discussed pros and cons of stablecoins in our ‘Atomic Swap with USDT’ review. Have a look – the first part is for the newbies, the second one is for developers. It describes our exchange solution in 200 lines of code.
Gemini Dollar as a State-of-the-Art Stablecoin
We usually criticize stablecoins for the lack of transparency regarding the process of issuance and the whole mechanism of transactions with the fiat the stablecoin is backed by. That’s why in September, 2018 Winklewoss twins via their Gemini crypto marketplace have released a new stablecoin – Gemini Dollar. Unlike other cryptos of this type, they developed and issued it in collaboration with the U.S. financial authorities. Therefore, this fact allows it to be ‘the world’s first regulated stablecoin’. The New York Department of Financial Services (NYDFS) is main regulator of Gemini emission while the U.S. Federal Deposit Insurance Corporation (FDIC) is responsible for the issues with Gemini Dollar security. Moreover, BPM Accounting and Consulting will publish monthly independent audit report of the whole system on the project web-site. Technically, this token belongs to the ERC-20 standard.
Gemini Dollar on Swap.Online
Swap.Online, multi-chain decentralized wallet using Atomic Swaps is the first decentralized platform to add Gemini Dollar to balances. Our developers have finalized test swaps with BTC, ERC-20, USDT and EOS. So, it can be a gate for the dollar liquidity on Swap.Online, With no doubt, it will make the cross-chain trade with our wallet more profitable.
Your competitors don’t even know about this option. Thus, try the Atomic Swaps with Gemini Dollar and be among the first to trade this stablecoin in decentralized, fast and safe manner on Swap.Online.