Creating a cryptocurrency that is pegged to the USD is proving to be a real challenge.
So far, one of the largest cryptocurrencies is Tether which is supposedly tied to the USD. This token encountered some issues including doubt that it is actually holding enough dollars to back what is out there. As of earlier this year, it was believed that it did.
Now the Winklevoss twins are throwing their hat in the ring. Through their Gemini fund, they are creating a token they claim will fit the need as a stablecoin.
“To date, there has been no trusted and regulated digital representation of the U.S. dollar on the blockchain. We are excited to bring the Gemini dollar to market, a stablecoin that combines the creditworthiness and price stability of the U.S. dollar with blockchain technology and the oversight of the NYDFS.”
To read more about this topic, click on image.
In trading exchange Tether play important role
Great NEWS. This will bring more liquidity and easy swap for crypto-fiat currency pair.
Thanks @finprep for posting this!!!
You got a 28.68% upvote from @emperorofnaps courtesy of @steemium!
Want to promote your posts too? Send 0.05+ SBD or STEEM to @emperorofnaps to receive a share of a full upvote every 2.4 hours...Then go relax and take a nap!
You got a 31.59% upvote from @postpromoter courtesy of @steemium!
Want to promote your posts too? Check out the Steem Bot Tracker website for more info. If you would like to support the development of @postpromoter and the bot tracker please vote for @yabapmatt for witness!
You got a 27.35% upvote from @upmewhale courtesy of @steemium!
Earn 100% earning payout by delegating SP to @upmewhale. Visit http://www.upmewhale.com for details!
You got a 25.76% upvote from @upme thanks to @steemium! Send at least 3 SBD or 3 STEEM to get upvote for next round. Delegate STEEM POWER and start earning 100% from your share, daily payouts ( no commission ).
Quick delegation links: 25SP | 50SP | 100SP | 250SP | 500SP | 1000SP | 2000SP | 5000SP | Custom Amount
You got a 35.25% upvote from @minnowvotes courtesy of @steemium!
You got a 33.12% upvote from @brupvoter courtesy of @steemium!
You got a 29.26% upvote from @oceanwhale With 35+ Bonus Upvotes courtesy of @steemium! Earn 100% earning payout by delegating SP to @oceanwhale. Visit www.OceanWhaleBot.com for details!
You got a 33.55% upvote from @dailyupvotes courtesy of @steemium!
You got a 37.93% upvote from @joeparys! Thank you for your support of our services. To continue your support, please follow and delegate Steem power to @joeparys for daily steem and steem dollar payouts!