174 Interactions, 2 today
On Tuesday, the Tyler and Cameron Winklevoss-owned Gemini exchange reported a significant milestone: cumulative cryptocurrencies kept in custody reached $25 billion for the first time.
Gemini highlighted growing involvement from institutional investors over the past year in charting its explosive progress. Since the beginning of 2021, Gemini Custody’s assets have more than doubled.
“Our custodial services are used by some of the worlds largest asset managers including BlockFi, Blockchange CoinList, CI Global Asset Management, DAiM, BTG Pactual, Caruso, Eaglebrook Advisors, and WealthSimple,” the company said in a statement.
The outspoken Tyler Winklevoss tweeted about the milestone on Tuesday:
— Tyler Winklevoss (@tyler) April 20, 2021
According to Messari, Gemini’s 24-hour trading volumes had surpassed $381 million as of Tuesday, placing it in 13th place.
Gemini has built a reputation as one of the most trustworthy digital currency exchanges on the market. While several big exchanges rushed to remove XRP in the aftermath of a Securities and Exchange Commission complaint, Gemini refused to mention the contentious cryptocurrency.
Gemini became the first digital currency exchange to complete a SOC 2 Type 2 test in 2020, demonstrating its operational security. In January 2019, the corporation concluded its SOC 2 Type 1 compliance examination.
In March 2021, the firm launched Gemini Fund Solutions, in addition to its main exchange and custody solutions. The new service offers portfolio managers a variety of resources and capital management services to help them broaden their crypto fund offerings.