On September 10, 20018, the US exchange, Gemini, was approved by the New York Financial Services Authority (NYSDFS) to issue a US dollar-pegged digital cryptocurrency GUSD under government supervision. Then Gemini officially launched GUSD, and EtherFlyer immediately finalized to launch trading pair of GUSD, which will be an important step for the decentralized exchange to become a mainstream market.
The stable currency USDT issued by private companies accounts for nearly 90% of the entire stable currency market, but the GUSD has an endorsement by the US government. The regulatory standards and transparency are better than the former. A large number of industry expert are optimistic that GUSD will replace USDT as a regular army of stable currency . EtherFlyer’s decision to launch the world’s first GUSD is very decisive, which is in line with the trend of mainstream financial markets embracing digital assets.
Why is EtherFlyer optimistic about GUSD?
In the field of stable currency, USDT currently has the most trading volume, and other stable currencies include TUSD, DGD, BitCNY, etc., but so far there is no any government credit endorsement. In this regard, GUSD has an unparalleled advantage that GUSD as the first batch of compliant digital currency, its issuer Gemini itself has a government license to legally operate cryptocurrency.
The official government agencies recognize and encourage the development of the digital currency market, and such significant progress is gratifying.EtherFlyer also believes that government involvement will allow the entire market to follow the rules, develop healthily, and say goodbye to chaos. The GUSD listing is a rapid response to the trend, EtherFlyer has always been at the forefront of the industry, and this time is no exception.
GUSD will help decentralized platform to achieve a leap-forward development
The stable currency of the pegged legal tender has a certain degree of demand, and the government-recognized GUSD is expected to significantly strengthen this demand. A large number of investors are located all over the world, they have basic needs for the sovereign currency of big countries, but the existing foreign exchange markets and policies hindered market circulation. GUSD is not only authoritative, but also easier to purchase and circulation of the US dollar, which will become an important form of foreign exchange circulation.
More importantly is GUSD is a stable currency based on the ERC-20 standard, which is very important for decentralized exchanges. The cross-chain of decentralized exchanges has always been a problem, technically achievable, but the transaction efficiency is poor, so decentralized transactions are based on ETH, while transactions on USDT need to be cross-chain. The emergence of GUSD not only achieved regulatory trust, but also provided a strong stable currency trading pair for decentralized exchanges. GUSD is strictly linked to the US dollar in a 1:1 ratio. On EtherFlyer, users will truly realize the conversion of digital assets and legal tender assets, which is a breakthrough in decentralized trading.
At present, EtherFlyer will first open the ETH/GUSD trading pair, and will follow up with more GUSD-based trading pairs. EtherFlyer protects your assets with decentralized transactions. GUSD has a credit endorsement by government financial institutions, which is a new dual insurance mechanism for digital asset trading. Users are more assured and the transaction is more efficient. EtherFlyer will always adhere to the concept of decentralization and keep pace with the times.
Trading website: etherflyer.com
Telegram group: t.me/EtherFlyer
EtherFlyer is a decentralized crypto Exchange, which dedicates to build a secured, solid and high efficiency platform for the users all over the world. Users who hold the platform token TCASH can share 50% of the platform’s profit and gradient discounts for transaction fees of their own!