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New Listing: GUSD and USDC Stablecoins
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The US dollars that back GUSD are held at the State Street Global Bank in the United States and eligible for federal deposit insurance coverage.
“The Gemini dollar is an obvious choice for Liquid. Both Liquid and Gemini put transparency, regulation and compliance at the forefront of our operations. We are proud and honoured to be able to offer Liquid customers the opportunity to use a stablecoin that can stand up to regulatory scrutiny.” ~ Liquid CEO Mike Kayamori.
Each USDC is 100% collateralized by a corresponding US dollar held in accounts subject to regular public reporting of reserves.
“Circle is a natural partner and ally for Liquid as we share common values in our motivation to clean up cryptocurrency, bring much needed liquidity to the space and lay the foundations for the kind of sector-wide stability that will lead to the next wave of adoption.” ~ Liquid CEO Mike Kayamori.
Stablecoins play an increasingly important role in the crypto economy, giving traders the flexibility to hedge against volatile markets and the ability to quickly move funds between platforms.
Both GUSD and USDC are ERC-20 tokens, which means they can be stored in any ERC-20 wallet and moved between addresses in a matter of minutes.
Stablecoin trade fees on Liquid are among the lowest in the industry, at 5bps (0.05%) for both maker and taker.
As previously announced, Liquid will later tap into Gemini’s liquidity for Liquid’s External World Book, a global liquidity pool sourced from a network of crypto exchanges.