Posted by Eric Kryski on May 16th, 2019
Now you can use your GUSD to buy gift cards from over 150 top brands such as Amazon, Starbucks, Home Depot, Nike, Uber and more through our gift card platform, and now any online merchant will be able to utilize our online payment and accounting software to accept this fiat backed USD stablecoin with ease.
Online retailers that accept Gemini Dollar and other cryptocurrency through our payment platform have the option of being paid out in GUSD for less than half the price of PayPal and Stripe. Of course, merchants can also be paid out in their local fiat currency including USD, CAD, Euro, and GBP and have their taxes and conversion rates automatically calculated.
Who is Gemini and what is GUSD?
Gemini is a cryptocurrency exchange and custodian based out of New York that was founded by Cameron and Tyler Winklevoss. They created the Gemini Dollar to provide a trusted and regulated digital representation of the U.S. dollar on the blockchain. Bidali is excited to support the use of this digital programmable dollar anywhere in the world to pay for goods and services.
GUSD is a digital US dollar. Like other crypto assets, it can move instantaneously, anywhere in the world, any time of any day, and it’s programmable. Unlike many other crypto assets, GUSD is stable because it is backed 1-for-1 to the US dollar.
It is issued by the Gemini Trust Company and the fiat currency backing it is carefully protected, audited and regulated. Gemini was one of the first institutions to be awarded with a New York Trust License, which holds companies dealing with cryptocurrency to a very high standard with regards to capital controls and anti-money laundering compliance. Probably the highest standard in the world right now.
We are a fan of Gemini’s regulatory compliant approach and in our eyes they have been the pace setter for how to provide an institutional grade platform for trading crypto-assets.
Bidali now supports more stablecoins than any other platform in the world. This gives people the ability to choose which stable currency is best for them and swap between these currencies almost instantly. Supporting multiple stablecoins, including Gemini Dollar, is a piece of our future vision where all assets can move anywhere instantaneously, bringing down barriers to global commerce.
We’re almost done with #StableCoinWeek. Stay tuned for an exciting announcement tomorrow! 🙊
Eric & The Bidali Team
Are You a Wallet, Exchange or News Site?
We have over a dozen integration partners already working on integrating the new Commerce SDK. If you would like to encourage real adoption of crypto and earn money for purchases made by your users give us a holler.
Do You Sell Things?
Bidali enables merchants to sell products and services to anyone in the world for a fraction of the cost — without chargebacks, tax headaches, high exchange fees, and volatility risk. Now your customer base is only limited to where you can ship. If you want to give your customers the option to pay using next generation payment methods you can sign up here.
Originally published at https://www.bidali.com on May 16, 2019.