Gemini Crypto Exchange Custodial Value Hits $25bln, a 100% Rise Since January
Cryptocurrency exchange Gemini, owned by Tyler and Cameron Winklevoss, has attained a major landmark, as aggregate value of cryptos held in custodial facility crossed $25 billion for the foremost time.
While boasting about the impressive rise, Gemini pointed to rising participation of institutional investors in 2020. Since the beginning of this year, the value of Gemini Custody’s assets have increased over 100%.
The company issued the following statement:
“Our custodial services are used by some of the world’s largest asset managers including BlockFi, Blockchange CoinList, CI Global Asset Management, DAiM, BTG Pactual, Caruso, Eaglebrook Advisors, and WealthSimple.”
Tyler Winklevoss also issued the following tweet regarding the landmark:
— Tyler Winklevoss (@tyler) April 20, 2021
Yesterday, Gemini’s 24-hour trading volumes had surpassed $381 million, placing it in the 13th spot, as per Messari.
Gemini has created a name for itself as one of the leading compliant cryptocurrency exchanges on the market. While several top exchanges rushed to delist XRP against the back drop of legal case slapped by the SEC (Securities and Exchange Commission), Gemini never took the initiative of listing the cryptocurrency, which is mired with controversies. Last year, Gemini turned out to be the foremost cryptocurrency exchange to finish a SOC2 Type 2 assessment, which endorses its functional safety. The firm finished its SOC 2 Type 1 compliance study in January 2019.
Along with cryptocurrency exchange and custodial facilities, the firm has rolled out Gemini Fund Solutions last month. The latest service offers fund managers with a series of tools and capital market services to widen their crypto fund services.