Gemini Crypto Exchange Reveals Bitcoin “Vault” To Custody Assets
Gemini crypto exchange had a great year, and back in February, their efforts have been recognized.
Back then, a Forbes report revealed that six blockchain companies —Axoni, Bitfury, Circle, Coinbase, Gemini, and Ripple—would “undoubtedly form some unusual alliances as they evolve past competing against other blockchain startups, to competing in mainstream finance against long-established players.”
This was really important because Forbes is one of the most important business names in the world and getting listed in the magazine is quite an accomplishment.
The crypto exchange launches Gemini Custody
Now, the crypto exchange based In NYC is launching the Gemini Custody, which is a qualified custodian for cryptos that handles complex requirements of large financial institutions.
Gemini’s aim is to give investors “instant liquidity”.
The official announcement says that users will be able to trade their crypto without having to wait for a few hours in order to transfer funds out of their offline cold storage wallets.
Gemini’s managing director of operations Jeanine Hightower-Sellitto said the following:
“At the end of the day, to simplify things, it’s sort of like putting your assets in a vault. You want to make sure when you want your assets, they’ll be there.”
Gemini CEO Tyler Winklevoss stated that “The maturation of crypto as an asset class depends heavily on the safety and soundness of the custodians that hold individual and institutional funds.”
Gemini Custody is supporting 18 cryptos
Gemini Custody is supporting 18 cryptos at the moment and plans to offer custody solutions for other assets shortly.
According to the data revealed by the online publication the Daily Hodl, the platform will feature a new interface that will allow customers to perform the following actions: check balances, download account statements, and perform withdrawals.
It is also worth noting that the customers will also have grant auditors view-only access to confirm balances and transactions.
Olympic rower and cryptocurrency investor. Winklevoss is the co-founder of Winklevoss Capital Management, a blockchain venture capital firm. Winklevoss also co-founded the next-gen exchange, Gemini, where he now stands as CEO. The business mogul is currently seeking approval for a Bitcoin ETF Winklevoss Bitcoin Trust, having already launched WinkDex, a BTC Price Index that will price the ETF.
Coinbase is a digital currency exchange headquartered in San Francisco, California.