The Winklevoss brothers led Gemini exchange has upgraded their cryptocurrency wallet which now fully support of SegWit. In its official release, Gemini stated: “As part of the upgrades this year, we introduced support for Segregated Witness (SegWit) addresses and transaction batching. SegWit addresses (which begin with bc1 ) can now be used for Bitcoin deposits and withdrawals. Both of these improvements required end-to-end integration through our online and offline signing systems.”
The cryptocurrency hardware wallet provider has shared that they now support the Gemini’s stable coin, GUSD. The head of corporate development for Gemini, Sarah Olsen commented, “We believe GUSD will be instrumental in the continued evolution of transacting value on the blockchain and we’re incredibly encouraged by its adoption by key players such as CoolBitX.”
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.