Recently, Harbor announced a partnership with the Gemini Bitcoin trading platform for the listing of the Gemini dollar (GUSD). The Gemini dollar is stablecoin that is pegged to the US dollar in a 1:1 Ratio and is regulated as well. Harbor intends to use it as a means for funding and distributing digital security offerings on its platform.
Investors will benefit from the stability provided by the Gemini Dollar (GUSD) stablecoin. The stablecoin eliminates the volatility risk that is usually attributed to cryptocurrencies. They will also have access to a comprehensive solution that enables them to participate in private capital markets by trading digital securities using the blockchain.
Tyler Winklevoss, the CEO of Gemini, said that their stablecoin brings the dollar to the blockchain, whereas companies like Harbor enable blockchain-based private investments. He added that partnership between the two companies will enrich the various forms of private investments with liquidity, capital formation, and accessibility, while investors will befit significantly from the several related advantages.
— Tyler Winklevoss (@tylerwinklevoss) April 30, 2019
The introduction of the GUSD to Harbor means that the platform’s users can now access a stable medium for funding and receiving investments. To transact, users simply have to exchange their dollars into Gemini dollars and vice versa. They will receive an amount of Gemini dollars equal to the fiat currency they wish to exchange.
As per John Stein, the CEO of Harbor, the fact that the Gemini dollar is regulated makes it the perfect fit for their platform. He added that the integration of the stablecoin has benefited in developing a solution for investing in digital securities offerings.
What is Harbor?
The Harbor platform employs blockchain technology to improve the accessibility, liquidity, and efficiency of transactions in various private investments such as real estate, private equities, investment funds and so forth.