Starting from September 20, 2018, HitBTC customers will be able to trade GUSD against the exchange’s main quote currencies: Bitcoin, Ethereum, Tether, and EOS.
By integrating GUSD HitBTC becomes the first top tier exchange platform to welcome the most prominent stablecoin development of 2018. Launched just ten days before on September 10 by Gemini Trust Company, LLC, a New York trust firm, the Gemini dollar was approved by the New York Department of Financial Services (NYDFS).
The NYDFS will supervise the operations of GUSD and act as the regulatory authority of the project.
The U.S dollars corresponding to the Gemini dollars are held at State Street bank located in the United States. In addition, the U.S dollar deposit balance will be examined monthly by BPM, an independent registered public accounting firm. The smart contracts underlying the Gemini dollar token have also been audited and formally verified by an independent security firm Trail of Bits.
Being one of the crypto trading market leaders, HitBTC pays special attention to the trends, technologies and requirements that influence the industry and provides substantial support to its flagship developments. HitBTC believes that stablecoins will become the solution that will mark a seismic shift in the global economy, empowering its transparency, efficiency and security.
Tyler Winklevoss, CEO of Gemini Trust Company, said:
“We’re excited to see rapid adoption by major exchanges of the Gemini dollar. It’s been really encouraging to see the global digital asset community understand the profound potential impact of a truly regulated, USD-backed stablecoin,”
Since 2013, HitBTC has been the world’s most technologically advanced cryptocurrency exchange. Created as a collaboration between outstanding technical minds, high-level finance professionals and experienced traders, HitBTC has delivered the most reliable, fast and powerful platform in its segment.
HitBTC team puts great effort into maintaining this forefront position in accordance with the rapidly growing security requirements, evolving regulations and service level demand of the crypto trading industry.
About Gemini Trust Company
Gemini Trust Company, LLC (Gemini) is a digital asset exchange and custodian that allows customers to buy, sell, and store digital assets such as bitcoin, ether, and Zcash.
Gemini is a New York trust company that is subject to the capital reserve requirements, cybersecurity requirements, and banking compliance standards set forth by the New York Department of Financial Services and the New York Banking Law.
Gemini was founded in 2014, by brothers Cameron and Tyler Winklevoss, to build a bridge to the future of money. Gemini, in partnership with the Cboe Futures Exchange, LLC, launched the first-ever bitcoin futures contract in December of 2017. Gemini was also the first licensed exchange in the world to offer trading and custody services for ether and Zcash.
For more information, visit Gemini.com.