New York and San Francisco, April 30, 2019 — Harbor, a digital securities platform for compliant fundraising, investor management, and liquidity, has announced an exclusive partnership with Gemini Trust Company, LLC (Gemini), a New York trust company, to use the Gemini dollar. Harbor will use Gemini dollar, a regulated stablecoin that is strictly pegged 1:1 to the U.S. dollar, as both a funding and distribution mechanism for digital securities offerings on the Harbor platform.
Through this partnership investors can use the Gemini dollar to invest in digital private securities without the price volatility associated with traditional cryptocurrencies. The partnership provides investors a full stack solution in accessing digital private securities via the blockchain, creating a new, more efficient mechanism to participate in the private capital markets.
“Stablecoins like the Gemini dollar bring U.S. dollars onto the blockchain, while Harbor brings private investments onto the blockchain. The combination of the two has the potential to bring unprecedented access, liquidity, and capital formation to private investments and tremendous benefits to investors,” said Tyler Winklevoss, CEO of Gemini.
“The Gemini dollar is a natural fit for Harbor given Gemini’s regulatory oversight and our shared institutional approach to the digital asset market,” said Josh Stein, CEO of Harbor. “Through integrating with the Gemini dollar, Harbor has created a fully-compliant solution to investing in digital securities offerings and receiving distributions.”
Harbor uses blockchain technology to bring greater efficiencies, access and liquidity to traditional private investments, including commercial real estate, private company equity, investment funds, fine art and more. Supporting the Gemini dollar on the Harbor platform provides a stable digital currency for quickly and efficiently funding investments and receiving distributions from investments, such as dividend payments. Users simply convert U.S. dollars to Gemini dollars 1:1 when funding an investment and can convert back to U.S. dollars 1:1 when they receive a distribution.
Gemini Trust Company, LLC (Gemini) is a digital asset exchange and custodian that allows customers to buy, sell, and store digital assets such as bitcoin, ether, litecoin, and Zcash. Gemini is a New York trust company that is subject to the capital reserve requirements, cybersecurity requirements, and banking compliance standards set forth by the New York Department of Financial Services. Gemini was founded in 2014, by brothers Cameron and Tyler Winklevoss, to build the future of money.
About the Gemini dollar
The Gemini dollar is a stable value coin (often called a “stablecoin”) that is (i) issued by Gemini, a New York trust company, (ii) strictly pegged 1:1 to the U.S. dollar, and (iii) built on the Ethereum network according to the ERC20 standard for tokens. The Gemini dollar (ticker symbol: GUSD) combines the creditworthiness and price stability of the U.S. dollar with blockchain technology and the oversight of U.S. regulators, namely, the New York State Department of Financial Services (NYDFS). You can read more about the Gemini dollar — the world’s first regulated stablecoin — in the white paperhere. For more information, visit Gemini.com.
Led by Silicon Valley and Wall Street veterans, Harbor is transforming private investments with blockchain technology to help unlock access, value and liquidity for commercial real estate, company equity, investment funds, and more. Harbor is an institutional-grade digital securities platform for compliant fundraising, investor management, and liquidity — powered by blockchain technology. For investors, the Harbor platform enables access to quality private investments with unique potential for enhanced liquidity.Harbor is backed by leading venture capital firms, including: Founders Fund, Andreessen Horowitz, Craft Ventures, Vy Capital, Fifth Wall, Valor Equity Partners, and Pantera Capital. For more information, visit harbor.com