A Twin-backed digital asset exchange ‘Gemini’ announced its new partnership, aims to add up a new dimension to its stablecoin, Gemini US Dollar [GUSD]. The firm is now joining hands with Harbor, a digital securities platform for tokenized securities offerings.
Gemini Exchange to Integrate New Dimension to GUSD
Gemini Trust Company, LLC (Gemini), a New York trust company is the latest to talk about the stablecoin despite the ongoing Tether stablecoin scandal. Tyler Winklevoss, CEO defines the new partnership as follows; In Gemini’s language, Gemini dollar is a regulated stable coin pegged 1:1 to the US dollar. Harbor deals with the digital private securities and with the partnership, it helps investors invest in such securities using Gemini’s Gemini dollar [GUSD] and encourage them to participate in the private capital markets.
“The Gemini dollar is a natural fit for Harbor given Gemini’s regulatory oversight and our shared institutional approach to the digital asset market,” said Josh Stein, CEO of Harbor. “Through integrating with the Gemini dollar, Harbor has created a fully-compliant solution to investing in digital securities offerings and receiving distributions.”
In a simples term, Harbor brings private investment mechanism to the digital world using blockchain whereas Gemini brigs US dollar on the blockchain via its stablecoin Gemini dollar. Appreciating the partnership, Tyler Winklevoss, CEO of Gemini says that;
The combination of the two has the potential to bring unprecedented access, liquidity, and capital formation to private investments and tremendous benefits to investors,”
Jumping At Opportunity
It is interesting enough to see major companies attempting to jump at the opportunity– while Tether (USDT) is quietly becoming dreary stablecoin due to the ongoing controversy around Bitfinex and frozen USDT from Tether reserve, companies such as Coinbase and Gemini are on urge to advert other stablecoins such as USDC and GUSD Consequent to that, Coinbase CEO ‘ Brian Armstrong’ took to twitter and excites its followers about USDC while disgracing USDT.
What do you think about the trends of stablecoin.? Do you think GUSD is regulated and 1:1 stablecoin.? Let us know in the comment below