The founders of Gemini exchange, Cameron and Tyler Winklevoss have recently shared that the users should put their trust with the storage of private keys. One of the brothers then explained, “the coolest thing about cryptocurrency though is that you can have it both ways. If you want to store your private keys, you can do that, if you want to use Gemini, you can do that.”
A cryptocurrency exchange platform based in the U.S, Gemini has recently joined the British Telecommunications’ connectivity platform for financial firms, Radianz Cloud Community. The MD of BT Radianz, Michael Wood explained, “By joining the Radianz Cloud, Gemini achieves the reach and scale demanded by global institutions and benefits from an established framework for doing business with them.”
Gemini, the USA-based crypto exchange have closed two over-the-counter(OTC) trading desks abruptly closed without explanation over attempts to redeem GUSD, the company’s stablecoin. A trader told CoinDesk that “So many players are unable to redeem, even very, very big OTC desks. Having an account doesn’t guarantee redeemability.” This shows how aggressive measures to boost can turnout.
The Gemini crypto exchange has received permission to permit Litecoin trading from the New York State Department of Financial Services (NYDFS). The company has been ‘closely working’ with the authority to receive the approval. Reportedly, the full trading service is said to commence today. The Litecoin crypto is traded against USD, Bitcoin, Ether, and Zcash.
The Gemini exchange has declared association with Omniex, the institutional investor trading platform, aimed at developing better-investing solution targeting larger investors. The CEO of Gemini, Tyler Winklevoss stated, “Omniex shares our core philosophy that technology must be purpose-built for institutional investors to address the regulatory and market challenges they face in crypto assets.”
The VP of Engineering at cryptocurrency exchange Gemini, Eric Winer confirmed the listing of Litecoin (LTC) on their platform. The exchange explained, “Litecoin further solidifies Gemini’s standing as the go-to exchange for retail and institutional investors alike. Gemini continues to grow with a ‘security-first’ approach and we have worked closely with the NYSDFS to gain approval for Litecoin trading and custody services.”
The Gemini crypto exchange has appointed Jeanine Hightower-Sellitto as its managing director of operations. She is the former Chief Operating Officer of the International Securities Exchange. She would be supporting the exchange to improve capacity and strategy in dealing with institutional investments. Her job responsibility would also be covering various other business lines.
The Gemini Trust Company has revealed about the insurance coverage for its custodial assets provided by a group of insurers led by the Aon Company. The Head of Risks at the Gemini exchange, Yusuf Hussain stated, “Consumers are looking for the same levels of insured protection they’re used to being afforded by traditional financial institutions.
Gemini has recently unveiled that its platform will be supporting Litecoin (LTC) and Bitcoin Cash (BCH) soon. The announcement was made in their official Twitter account which also stated the exchange would support Litecoin from October 13th and the regulatory approval to list BCH has been obtained. However, the time for listing BCH has not been revealed.
Two sources that are close to a cryptocurrency exchange based in the US, Gemini has reported that it has recently hired advisors to consult expansion plan to the European cryptocurrency market. The exchange analyzes the “potential jurisdictions around the globe to provide a best-in-class digital asset exchange and custodian which will enable growth and infrastructure to the entire digital asset community.”