We add Gemini USD, a stable coin pegged to USD dollars and approved by U.S. regulators, namely, the New York State Department of Financial Services (NYDFS).
There have been a lot of talking and hype around stable coins lately. A “stable coin” is a cryptocurrency that is pegged to another stable asset, like gold or currencies like USD or EUR. It combines some of the advantages of math coins with the stability of a “real world” currency.
As a bitcoin maximalist, you can imagine there are areas I am uncomfortable with the words I just wrote above: a stable coin is not a cryptocurrency, first of all, and defining “stable” a FIAT currency is a bit of a stretch.
Davide Barbieri, The Rock Trading Co-founder and CTO
Nonetheless, The Rock Trading is a gateway between the FIAT world and the crypto one, so from the point of view the exchange and its users, “stable coins” are vital, essential and bring a lot of new opportunities.
From the user/trader point of view, is like working with traditional currencies but without the constraints: it’s much easier to move.
We started our journey into stable coins by adding Noku EUR (pegged 1:1 to EUR) several months ago, and today we are expanding our features adding Gemini Dollar (pegged 1:1 to USD).
Gemini Dollar not only is a stable coin, but also one that has been approved by U.S. regulators, namely, the New York State Department of Financial Services (NYDFS). This, if you think about it, is the real breakthrough of this stable coin and it makes a lot of sense in a 1:1 pegged coin.
So we have agreed with Gemini to add it to our platform and it will provide a new gateway between crypto and FIAT world, between European and US traders. Welcome, Gemini Dollar!
Post Scriptum: we opened BTC/GUSD and GUSD/EUR markets: a little bit of caution is due until some liquidity builds upon the order books.
Article written by Davide Barbieri