Deployments · platform by Gemini
Gemini Dollar (GUSD)Updated 7 Nov 2026
A dollar stablecoin issued by the Gemini exchange on Ethereum since September 2018 under New York DFS supervision. Reserves are bank deposits, Treasury money market funds and Treasuries, reviewed monthly by an accounting firm. It remains small, at about $36 million outstanding in October 2026.
AnnouncedProof of conceptPilotLive (limited)Live (scaled)
Live (limited) since 9 Sep 2018[1] — Live and open, but supply is only tens of millions of dollars. · Reviewed 13d ago
- Assets
- Use cases
- Primary issuance[3]
- Jurisdictions
- United States, New York
Participants
- GeminiPlatform provider, Issuer, Operator[1]United States
- State StreetCustodian[2][6]United States
- BPMAuditor or reserve attestor[6]United States
- Goldman SachsCustodian[6]United States
Operates under
- NYDFS limited purpose trust charter: Gemini Trust CompanyNew York · Licence or charter[4]
Likely relevant regulation
- US federal banking agencies' framework for bank crypto-asset, stablecoin and tokenisation activitiesUnited States
- GENIUS Act (Guiding and Establishing National Innovation for U.S. Stablecoins Act)United States
- New York virtual currency regime (BitLicense, 23 NYCRR Part 200, and limited purpose trust charters)New York
Assets
- IssuesGemini Dollar (GUSD)[1]
Metrics
- ~$36.24mTokens in circulation · as of 11 Oct 2026[3]On-chain via DefiLlama; sum of its per-chain balances.
- $39.2mCustodial funds due to GUSD holders · as of 30 Jun 2026[5]Gemini's liability to GUSD holders (USD 39.2m; USD 45.6m at 31 Dec 2025), backed by USD 39.8m of segregated custodial cash.
- ~$34.55mSupply on chain (daily) · as of 7 Nov 2026[7]Automated daily reading of on-chain supply across all chains.
- ~$34.55mSupply on chain (daily) · as of 7 Nov 2026 · on Ethereum[7]Automated daily reading.
Timeline
- Happened 9 Sep 2018 · Launch · recorded 11 Oct 2026Gemini begins issuing Gemini Dollars on Ethereum with NYDFS approval.[1]
Sources
- [1]Gemini Dollar (GUSD) — Gemini. Accessed 11 Oct 2026.B
- [2]What is Gemini Dollar (GUSD)? — CoinDesk. Accessed 11 Oct 2026.C
- [3]GUSD stablecoin data (API) — DefiLlama, 11 Oct 2026. Accessed 11 Oct 2026.A
- [4]Virtual currency businesses: regulated entities — NYDFS. Accessed 12 Oct 2026.A
- [5]Gemini Space Station, Inc. quarterly report on Form 10-Q for the quarter ended June 30, 2026 — Gemini Space Station (SEC Form 10-Q), 13 Aug 2026. Accessed 26 Oct 2026.A
- [6]What is Gemini Dollar (GUSD)? A Secure Stablecoin — Gemini. Accessed 28 Oct 2026.B
- [7]Supply by chain, read daily — DefiLlama (automated daily refresh). Accessed 7 Nov 2026.A
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