One of the latest crypto exchanges to add the Gemini Dollar (GUSD) is BitMart. The BitMart exchange is a premier global virtual asset trading platform. This move made by the exchange will offer traders more liquidity on BitMart. It will also ensure a more trustworthy transaction for the users of the platform.
With GUSD being listed on BitMart, more and more people will now be willing to join the platform by buying the stablecoin, considering it is essentially holding the USD’s value in real time. This will help in increasing the platform’s customer base. Consequently, the cash flow will also increase giving BitMart greater liquidity than what it enjoys today.
The Gemini Dollar is relatively new compared to many other stablecoins and cryptocurrencies. However, this stablecoin has been grabbing the headlines while its popularity continues to grow around the world. GUSD has already been listed on several global cryptocurrency exchange platforms.
The crypto exchange BitMart team has already issued a press statement confirming the news. The CEO of BitMart, Sheldon Xia said that the exchange has optimized its systems to accommodate the new stablecoin. The list is still in its nascent phases and the only pair available for the Gemini Dollar is GUSD/USDT. However, Mr. Xia has promised to offer more trading pairs soon, as reported on Bitcoin Exchange Guide.
Issued by Gemini Trust Company, LLC, GUSD is an ERC20 stablecoin, pegged strictly at 1:1 to the U.S. dollar. The Gemini Dollar is approved by the New York State Department of Financial Services (NYDFS) and is the world’s first regulated stablecoin. It is designed with the intention of offering low volatility against the world’s most influential currencies such as the Euro and the Dollar.
While the trading volume of USDT had declined dramatically, GUSD’s trading volume has doubled. As the traders’ incentives to trade USDT as a hedge against risks are diminishing, the exchange seems quite confident that GUSD has the key success indicator owing to its secure nature.
Crypto exchange BitMart has over 520,000 users worldwide. The exchange ranks among the top 10 crypto exchanges on CoinMarketCap, as stated on its official site. Presently, the exchange offers 111 trading pairs with one of the lowest trading fees in the market.[The views and opinions expressed in this article are those of the authors and do not necessarily reflect the views and/or the official policy of the website. ]