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Gemini Exchange Founder Secures Six Stablecoin-Related Patents for Future Expansion

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Gemini Exchange Founder Secures Six Stablecoin-Related Patents for Future Expansion

According to documents filed with the United States Patent and Trademark Office (USPTO), the founders of Gemini cryptocurrency exchange, Tyler and Cameron Winklevoss, have been granted 6 patents related to stablecoins.

Table of Contents

  • Mainly using stablecoins as financial collateral, payment of dividends, and other related patents
  • Gemini dollar (GUSD) market value continues to decline

Tyler and Cameron Winklevoss, early investors in Bitcoin and founders of Gemini Exchange, have been actively promoting the development of stablecoins recently.

Cryptocurrency Patent Battle

According to reports, among the 6 stablecoin patents, the first, second, and fifth involve blockchain-based stablecoin circulation systems, including how trusted third-party institutions (such as exchanges or banks) generate assets according to actual demand.

The third patent on the list shows that stablecoins will be able to serve as collateral in financial transactions through the execution of smart contracts.

The fourth patent, filed as early as April 2018, involves using stablecoins as instruments for dividend payments of securities and blockchain-related financial assets.

Gemini Stablecoin Market Share Decline

However, despite the efforts of the Winklevoss brothers, the market value of their exchange's U.S. dollar stablecoin Gemini dollar (GUSD) has not seen improvement in adoption and remains at the bottom in terms of market share among mainstream stablecoins.

Source: skew

ABM has previously reported that the market value of Gemini dollar (GUSD) has been declining since 2019, dropping from approximately 93 million pounds in January last year to around 4.6 million pounds currently.

In addition to the Gemini dollar, the market share of stablecoins issued by various platforms is steadily growing. However, Tether's USDT remains dominant, with its recently issued TRC20 version on the Tron blockchain also seeing continuous growth, reaching a market value of around 1 billion pounds.

Further Reading

  • BIS Innovation Head's Views on CBDCs, Libra, and Stablecoins
  • Tether Launches Tether Gold (XAU₮), a Cryptocurrency Stablecoin Pegged to Gold

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