Tyler and Cameron Winklevoss, the creators of cryptocurrency platform, Gemini, has received permission from the new York regulator to launch a private stable koina.
The so-called “dollar Gemini” was approved by the new York Department of financial services (NYDFS). New coin provided a $ “is stored in a Bank located in the United States, and are eligible for “pass-through” Deposit insurance FDIC subject to certain restrictions.”
This is the first cryptocurrency, in which the Winklevoss brothers are actively involved.
Tyler Winklevoss commented on this event:
It’s not just Gemini Trust, we have created a network of key players in the cryptocurrency market, which will also support a new stable coin.
Bidding on the dollar Gemini starts today, Tyler hopes that they will be able to solve all the problems related to time delays between different cryptocurrency markets.
According to brothers, the green light NYDFS does “dollar Gemini” the world’s first adjustable stable the coin. In this regard, Director of the NYDFS Maria T. Vullo stated that:
Our endorsement of this initiative shows that private companies can set strong standards even in the strict state regulatory framework.