Green light to launch cryptocurrencies pegged to the dollar

Green light to launch cryptocurrencies pegged to the dollar

The New York Department of Financial Services has nodded for the Gemini Trust and the Paxos Trust to issue cryptocurrencies pegged to the U.S. dollar. The Gemini Trust founded by Winklevoss twins would be unveiling Gemini dollar and the Paxos Trust would issue Paxos Standard. Reportedly, the coins would compete with Tether and other stable coins in the market.

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