Gemini Found a New Way to Lure Institutional Investors into Crypto
U.S.-based cryptocurrency exchange Gemini claims it has found a solution that might encourage institutional investors to inject more capital into digital assets.
Today, it launched an institutional-grade qualified crypto custodian, called Gemini Custody™, which allows customers to trade their crypto in custody directly on the exchange. It means that they don’t have to wait for their funds to be transferred out of cold storage.
According to, Jeanine Hightower-Sellitto, Managing Director of Operations at Gemini, institutional investors showed “a clear and growing demand for crypto,” but that they couldn’t find a solution that “fully meets their complex regulatory and security requirements." Gemini Custody is that solution, she says, as it’s “the only crypto-native solution in the market today that meets these complex requirements without sacrificing security or liquidity."
As the exchange’s website explains, Gemini is a fiduciary and qualified custodian under New York Banking Law and it is licensed by the State of New York to custody digital assets. Furthermore, it is “regularly audited and subject to the same capital reserve requirements and compliance standards as the world’s top financial institutions.” Also, recently, Gemini was ranked as one of the top 10 most trusted exchanges.
Gemini’s blog post by Tyler Winklevoss, CEO of Gemini, explains that the product had been expanded with additional features, such as: offline storage, whereby crypto is custodied offline using hardware security modules, multisignature technology, and geographically distributed, access-controlled facilities; hardware security keys, withdrawal address whitelisting; sub-account option; and a new interface for users to check balances, download account statements, and start withdrawals, among other things.
"The maturation of crypto as an asset class depends heavily on the safety and soundness of the custodians that hold individual and institutional funds," said Winklevoss.
At this stage, Gemini Custody™ supports 18 cryptos for custody: Bitcoin, Bitcoin Cash, Ether, Litecoin, Zcash, and the ERC-20 tokens: 0x (ZRX), Augur (REP), Basic Attention (BAT), Bread (BRD), Dai (DAI), Decentraland (MANA), Enjin (ENJ), Flexacoin (FXC), Gemini dollar (GUSD), Kyber Network (KNC), Loom Network (LOOM), Maker (MKR), and OmiseGo (OMG).
Also in September, Gemini launched Gemini Clearing, a fully-electronic clearing and settlement solution for off-exchange or over-the-counter (OTC) crypto trades. It allows trades that are negotiated off-exchange or OTC to settle between Gemini accounts.
The exchange is ranked 95th by trading volume (USD 10 million in the past 24 hours), according to Coinpaprika.com.
Trading volume on Gemini: