Cryptocurrency exchange Gemini adds support for earning interest on the gemini dollar (GUSD) stablecoin. According to an announcement, users can currently earn up to 7.4% on their GUSDs via Gemini Earn.
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Gemini emphasizes this interest rate is more than 100 times the national US average. However, only customers from the US can move earn on GUSD into Earn. The exchange also says there are no minimum balances and no fees to transfer into or redeem from Gemini Earn.
Earlier in May, Gemini announced that its custodian reached the $30 billion mark. According to the exchange, its assets under custody more than tripled since the beginning of 2021. Gemini emphasizes that its custodial services are used by many key players on the market, including BlockFi, Blockchange, CoinList, and many others.
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