$0.99907425

Gemini dollar (GUSD) is a stablecoin pegged to the U.S. dollar-an on-chain substitute for cash that can be used across the crypto ecosystem. GUSD brings together the reliability and steadiness of the U.S. dollar with the faster, more efficient mechanics of cryptocurrency. It is an Ethereum-based ERC-20 token that is designed to be programmable for smart contract use. Since 2018, GUSD has been fully regulated by the New York State Department of Financial Services (NYDFS), placing it among the earliest regulated stablecoins globally.

All GUSD in circulation is backed by cash or cash equivalents kept in bank accounts, money market funds, and U.S. treasury bills. Gemini users can redeem 1 GUSD for $1 on Gemini at any time.