This summer, Gemini is making it easier for users to participate in the Solana ecosystem with Gemini’s Solana Summer fee promotion.
Starting on July 1, 2022, the digital asset firm is “offering free USD trades to ActiveTrader and API (FIX and REST) users on the taker side of orders for Solana (SOL) and Solana-based (SPL) tokens.”
The Solana Summer promotion will “run through September 1, 2022.”
With Gemini’s Solana Summer fee promotion, they’re “lowering the barrier to entry for users who want to engage with the Solana ecosystem.”
Takers will “not only benefit from free trades, they’ll also be paid a 0.01% rebate on SOL and SPL trades.”
You can visit the platform’s FAQ page “for more information on how the rebate will be received and how to ensure you’re on the taker side of your order.”
For more details on this update, check here.
In another update, Gemini notes that they are pleased “to announce that Gemini users in the UK and U.S. can now trade Gemini dollar (GUSD) with British Pounds (GBP), joining the U.S. dollar (USD) and Singapore dollar (SGD).”
Gemini dollar is “a stablecoin built on the Ethereum network and is backed 1:1 by fiat and cash equivalents.”
Launching the GUSD/GBP trading pair is “an important step in expanding the accessibility of crypto globally, making [their] stablecoin available to UK customers in their local currency.”
GUSD/GBP pairs “are available on the Gemini Mobile App and website, and on [their] ActiveTrader and API/FIX applications.”
Across the crypto ecosystem, Gemini dollar “serves as a bridge between fiat currency and DeFi, and is actively used to trade and stake on decentralized exchanges, in DeFi lending protocols, and more.”
All reserves backing GUSD are “held in accounts with State Street Bank and Trust, Signature Bank, and Goldman Sachs Asset Management.”
Every month, the reserve balance is “examined by BPM LLP, an independent registered public accounting firm, to verify GUSD’s 1:1 backing, with BPM’s monthly attestations posted for review on [their] website.”
GUSD is “issued by Gemini Trust Company, LLC, a New York trust company regulated by the New York State Department of Financial Services.”
Gemini Europe, Ltd (company number 11497305), is “an Electronic Money Institution authorised by the Financial Conduct Authority in the United Kingdom under the Electronic Money Regulations 2011, with firm reference number 900988.”
Cryptoasset services are “provided in the UK by Gemini Europe Services, Ltd. which is a cryptoasset firm registered with the Financial Conduct Authority in the United Kingdom.”