Who controls it
Gate controls this exchange-issued, yield-bearing asset and its 1:1 conversion into USDT, USDC or USD1. Its backing and redemption depend on Gate accounts, selected RWAs and exchange operations.
- Backing
- Gate-selected stablecoins and real-world-asset exposures used by the product.
- Holder’s claim
- Gate GUSD is a product claim that the exchange Gate administers. It is unrelated to Gemini Dollar and gives no direct ownership of reserves.
- Redemption or sale
- Gate offers 1:1 conversion into supported stablecoins such as USDT, USDC, or USD1, subject to account and product terms.
Dependencies
- Gate solvency and operations
- Gate account eligibility
- Underlying stablecoin issuers
- RWA and custody counterparties
Losses and incidents
- We found no control, reserve, or redemption incident in the sources we reviewed.
Advisor notes
Controlling party: Gate and its product administrators. Check whether the client can redeem directly with the issuer. Holding the token on chain leaves every reserve, custody, contract, and legal dependency in place.
A named organization or administrator controls issuance, transfers, reserves, redemption, or address restrictions. This grade can sit beside a sound reserve, a useful product, or a fitting role in a client account. It records who can act on the token and passes no judgment on the product.
Questions before use
- Does the exact contract and chain match the instrument reviewed here?
- Which party can mint, burn, pause, upgrade, block, or redeem?
- Does the client have direct redemption access or only secondary liquidity?
- What protocol, bridge, wallet, and custodian dependencies are added?
- Which event would force a review or a sale?
Sources
- Gate: GUSD product page · primary
- DefiLlama: Stablecoins circulation dataset · secondary
Issuers can change their documents and product terms. This page gives our reading of control as of 2026-08-19. Check the current terms before a client buys.
Legend: No freeze key: no issuer or administrator can freeze an address at this layer · Governed, no freeze: on-chain collateral and governance set the terms, but no issuer blocklist exists · Mixed control: on-chain mechanisms sit beside custodians, real-world assets, a central transaction orderer, or other parties a court or regulator can compel · Issuer can freeze: a named organization or administrator controls issuance, transfers, reserves, redemption, or address restrictions. How grading works.