Gemini

Gemini Achieves Major Milestone as Crypto Custody Reaches $25 Million

Since the start of this year, the crypto company owned by Winklevoss Twins has seen its custody of crypto assets doubled. The Gemini crypto assets exchange reached a major milestone on Tuesday when the total coin in their custody touched a massive $25 million for the first time since its launch. While announcing its outstanding growth, the firm credited the growing confidence of investors in the firm as reason for its growth.

In a statement issued on Tuesday, it said,

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.

Soon after hitting the major achievement, Tyler Winklevoss took to twitter to spread the news to their fans. Messari, a crypto analytic firm, also revealed that the company’s daily volumes of trade had soared to a whopping $381 million.

Over the last few years, Gemini has established itself among the regulator-friendly crypto exchanges in the world. While most of the major exchanges across the world are now planning to delist XRP (Ripple) following the spat with the federal regulator SEC, the Gemini exchange never listed it due to the growing concerns of regulators.

Last year, the company became the first crypto exchange to complete its security of operations after completing a Type 2 SOC 2 evaluation. In 2019, Gemini completed its Type 1 evaluation. A month ago, Tyler-owned company also launched a new program to expand its funding services.

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