- The new custody service allows its customers to check balances, download account statements, initiate withdrawals, etc.
- The custody will be supporting around 18 cryptocurrencies including Bitcoin, Ether and Litecoin.
Gemini, a cryptocurrency exchange founded by Cameron and Tyler Winklevoss has launched Gemini Custody - its own custody service. The firm said that the latest custody solution will enable the users to check balances, download account statements, initiate withdrawals, and grant auditors view-only access to confirm balances, transactions and activity. Additionally, customers can also trade their assets in custody on the Gemini exchange without having to wait for them to be transferred from cold storage.
Reportedly, Gemini custody supports 18 cryptocurrencies. These include Bitcoin (BTC), Bitcoin Cash (BCH), Ether (ETH) and Litecoin (LTC), as well as the following ERC-20 tokens: 0x (ZRX), Augur (REP), Basic Attention Token (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).
Tyler Winklevoss stated that the maturation of crypto as an asset class depends on custodial security. He added:
“From day one, Gemini recognized the need for a world-class custody solution that is secure, compliant, and easy to use for individuals and institutions around the world.”
Managing director of operations at Gemini, Jeanine Hightower-Sellitto said that institutional investors had displayed a clear and increasing demand for crypto. However, some struggle to find a solution that meets complex regulatory and security requirements entirely.
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