The infamous exchange owned by the Winklevoss brothers is a fully licensed computerized asset exchange owned by Gemini Trust Company.
Everyone must have heard about the Winklevoss twins who sued Mark Zuckerberg for stealing their Facebook idea. The money they got from the case was used in investing in their very own digital currency company.
Established in 2015, the company is located in the United States, New York to be precise and it has successfully expanded all of its operations to Asia and Europe respectively. Note that the brothers go by the names Cameron and Tyler Winklevoss.
Gemini is a virtual currency exchange as well as a custodian that enables customers to trade, purchase and keep computerized assets. The company is being regulated actively by the New York state department of financial services.
Also, the company competes directly against some of the other top virtual currency exchanges such as.
Basically, Gemini enables its users to trade, purchase and keep their major virtual currencies and later on exchanging them against each other for fiat currencies. Gemini started its operations in Canada as of 2016. Some weeks later, the company opened its doors wide enough for customers from the United Kingdom. Thus, marking Gemini’s entry into Europe.
A fun fact about Gemini is that it stands for twins as it is a Latin word and further on indicates duality. Gemini platform is idealized to merge both forms of money that are, new age virtual currencies and the old, already existing fiat currencies. See also the video below in how the team explains cryptocurrency in public.
The platform hopes to do this in the expectation that the currencies will be used interchangeably in the near future due to the already growing acceptance of digital currencies.
Core Business of Gemini
As an institutional and retail virtual currency exchange service, Gemini is rated among the few highly regulated virtual currency exchanges available in the world today. It is an online virtual asset exchange for not just individuals but for institutions as well.
Gemini is rated among the few highly regulated virtual currency exchanges available in the world today.
The core business of the company is to provide a digital trading platform that allows its users to either buy or sell virtual currencies in exchange for fiat currencies. The trading pairs the platform supports are:
- Bitcoin and dollar
- Ether and dollar
- Ether and Bitcoin
The platform is among the safest exchanges to carry out Cryptocurrency business and it is subject to the capital reserve, banking compliance demands and security of its regulators in charge.
Well-Established Partners of Gemini
Some of the highly placed companies that are currently partnering with Gemini include:
- Liquid – a Global digital asset platform
- BT Radianz Cloud
- Banco BTG Pactual
What Product does the Gemini have To Offer
The Gemini Trust Company is not only offering Cryptocurrency users and enthusiasts a platform to trade, but they are also offering them the Gemini dollar.
Gemini dollar is the globe’s first stable coin that is regulated and structured to allow users to transfer and receive fiat currencies like the US dollars on the Blockchain of Ethereum.
Basically, Gemini dollar has been designed to bring about a balanced bridging currency that will bring both conventional banking system and Cryptocurrency market together in a frictionless way that has never been witnessed before.
Asides from its Gemini dollar, the company also has a web platform that enables users to trade virtual currencies easily.
To Wrap it Up
The company started in a bid to facilitate the buying and storage of Bitcoin via a difficult system of password protected surroundings and private keys. There is only a little percentage of the overall Bitcoin on Gemini exchange held online. This is done to reduce the risk of losing the coins to hacking.
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