As of May 31, 2023, GUSD is fully backed by US Treasury Bills (50%), cash deposits (46%), and money market funds (4%). All assets are held in fully segregated and bankruptcy-remote accounts.
For off-chain collateral, we rank storage methods as follows (best to worst)
With regulated custodians not in off-shore jurisdictions
With regulated custodians in off-shore jurisdictions (e.g, BVI, Bahamas)
Others / Undisclosed
GUSD reserves are fully held in regulated and insured banks and financial institutions in the USA. Further, each custodian has been pre-vetted by the NYDFS.
All customer assets in GUSD’s reserves are fully segregated from Gemini’ corporate treasury and held in bankruptcy-remote accounts.