US-based cryptocurrency exchange Gemini is breaking bad with DeFi

The US-based cryptocurrency exchange Gemini goes all in DeFi mania. On Friday, the Winklevoss twins' trading platform announced the support for a bunch of DeFi tokens.

Seven new tokens -  Balancer (BAL), Curve (CRV), Ren Network (REN), Synthetix Network (SNX), Uma (UMA), Uniswap (UNI), and Yearn.finance (YFI)- will be added to the list of the available instruments on the platform for both trading and custody purposes.

Apart from that, the platform will allow users to trade Decentraland (MANA), Kyber Network (KNC), Maker (MKR), Storj (STORJ), and 0x (ZRX), which are currently available only for custody. 

All in all, the platform adds ten new tokens and unlocks trading features for Keep Network (KEEP), Wrapped Bitcoin (wBTC), and tBTC (tBTC). These three tokens are currently available only for custody purposes.

With these new token additions, we now offer trading and custody support for a total of 24 cryptos and custody support for another ten cryptos. We are proud to be the first regulated platform to offer trading and custody support in the State of New York for the following tokens: BAL, CRV, KNC, MKR, REN, SNX, STORJ, UMA, UNI, YFI, and ZRX, the company wrote in the press release. 

Deposits are open at 8 am ET, while trading features will be unlocked at 11 am ET on ActiveTrader™ and via Gemini's API. 

The company underlined that the ideas behind the Decentralized Finance (DeFi) revolution align with its vision as it creates choice and opportunities. Other major cryptocurrency exchanges, including Binance and Coinbase, have also been diving into a lucrative DeFi market.

In August, Gemini obtained the UK Financial Service Authority's license and registered the branch in the country. 

Gemini got the highest AA rating for legal compliance, the security, and the quality of the listed digital assets. The rating is compiled by CryptoCompare.