Gemini now has a stable ERS20-USD token

I got an interesting email today from Gemeni:

They have released the USD token that has received approval of the US regulators.

What I find very striking is the fact that with this control over funds flow in USD is a little bit released.

If these tokens are truly fungible than anyone can transact in USD over the blockchain, without any way to seize such funds.

As a result I am a little bit surprised that the us regulator allows such a thing. I guess that is not worse than USD bills, and in fact better as the flow of such cash can be monitored.

However overall this is good news at it is yet another way how a stable currency can exist on the ethereum blockchain.

While prices are crashing towards $150, $50 and $19 infrastructure is being built this is what is required to ultimately bring value to the ecosystem.