In an important move for strategic expansion, Gemini has announced that it has acquired the Guesser platform. The Guesser is a very well-known name in the segment of platforms that predict markets on a real-time basis. With this acquisition, Gemini stands to gain a lot in categories such as decentralized finance (DeFi), cross-blockchain markets, and smart contracts.
Expanding its influence in the DeFi domain is the key priority that Gemini has set for the future. The newly onboarded team of Guesser can prove to be of immense help in this regard. It will work on conceptualizing different varieties of projects that will help Gemini to come up with a new set of products for the entire ecosystem of DeFi.
Gemini is also looking to push the adoption potential of its dollar, called the Gemini Dollar (GUSD) with the help of the new team. In fact, a quick Gemini review will reveal how much importance the company attached to the expansion of its GUSD project. The team from the Guesser platform, with its vast experience in the DeFi apps and platforms, will prove crucial in determining the success of this project. In addition, Gemini will also take the help of the new team in building momentum for its project on stablecoin which is completely regulated in nature.
It is worth noting that there has been a considerable increase in the influence of GUSD with an increasing number of platforms and projects adopting the coin for their transaction activities. This has resulted in a considerable rise in the market capitalization of GUSD, which according to the latest figures, stands above $250 million.
By acquiring the Guesser platform, Gemini has just made its fourth acquisition. The other three organizations purchased by the Gemini include Nifty Gateway, ShardX, and Blockrize. It will be interesting to witness whether, after this latest acquisition, Gemini’s buying spree halts or the trend continues unabated.