Gemini Dollar (GUSD) is a fiat-backed US dollar stablecoin issued by Gemini Trust Company. It has about $37.1M in circulation, ranking #85 among the stablecoins CoinScoop tracks, and runs on 1 blockchain.
GUSD price
$0.9975
On peg Circulating supply
$37.1M
30-day change
-5.4%
Price
$0.9975
Blockchains
1
Tracked since
Jan 2020
What is GUSD?
Gemini Dollar (GUSD) is a fiat-backed US dollar stablecoin issued by Gemini Trust Company. It has about $37.1M in circulation, ranking #85 among the stablecoins CoinScoop tracks, and runs on 1 blockchain.
Issued under a New York DFS trust charter.
In the issuer's words: GUSD is a 1:1 USD-backed stablecoin issued by Gemini. Gemini customers can redeem a GUSD for $1 at Gemini.
GUSD supply history
$51.6M$36.7M
Oct 8, 2025Oct 8, 2026
$636M$0
Jan 4, 2020Oct 8, 2026
GUSD supply fell 5.4% over the past 30 days, to $37.1M. Its peak was $858M in November 2022, and supply is 96% below that high.
Is GUSD holding its peg?
Last price
$0.9975
Target
1.0000 USD
Status
On pegGUSD is trading within 0.5% of its target, which is normal for a healthy stablecoin.
Where GUSD lives: supply by blockchain
Supply is concentrated: Ethereum holds 100% of all GUSD. Moving it to another chain means bridging, or a mint and redeem through the issuer.
How GUSD is backed
GUSD is backed by US dollar deposits and US Treasuries.
Minting and redemption: Gemini customers who have undergone a verification process can exchange USD for GUSD and redeem GUSD for USD.
Reserve reports and audits: gemini.com
GUSD risks
Issuer and custody
Your claim is on the issuer and the banks or funds holding its reserves. A failure or freeze there can break the peg, as USDC briefly did in March 2023.
Freezes and blacklists
Fiat-backed issuers can usually freeze tokens at specific addresses, for example to comply with sanctions or court orders.
Small and thinly traded
With $37.1M in circulation, exiting a large position may move the price. Redemption may be limited to approved customers.
Regulation
Rules such as the US GENIUS Act and the EU's MiCA can restrict which stablecoins exchanges list in a given country.
GUSD vs USDT and USDC
Similar fiat-backed stablecoins
See all →
GUSD in the news
GUSD FAQ
What is GUSD?
Gemini Dollar (GUSD) is a fiat-backed US dollar stablecoin issued by Gemini Trust Company. It has about $37.1M in circulation, ranking #85 among the stablecoins CoinScoop tracks, and runs on 1 blockchain.
Is GUSD pegged 1:1 to the US dollar?
GUSD targets 1 USD. At the last update it traded at $0.9975, a deviation of -0.25%, which we classify as "on peg".
What backs GUSD?
GUSD is a fiat-backed stablecoin. US dollar deposits and US Treasuries.
Which blockchains is GUSD on?
GUSD is live on 1 blockchain. The largest by supply are Ethereum ($37.2M).
How much GUSD is in circulation?
About $37.1M of GUSD was in circulation at the last update, -5.4% over 30 days. That makes it the #85 stablecoin by supply among those we track.
Does GUSD pay interest?
No. GUSD does not pay yield to holders directly. Any interest earned on its reserves goes to the issuer. Some platforms offer rewards for holding it, but those are paid by the platform, not by GUSD.
Is GUSD safe?
No stablecoin is risk-free. As a fiat-backed design, GUSD's main risks are reliance on the issuer and its banks or custodians, how transparent the reserves are, the issuer's ability to freeze tokens, and regulatory action. Its supply is small, so liquidity can be thin. It currently shows "on peg" on our peg monitor. This page is information, not investment advice.