USA-Based Gemini Crosses $25B in Crypto Under Custody Tag

Headquartered in New York City, Gemini Exchange, the regulated channel for crypto trading, has proudly announced that it has achieved the milestone of holding over $25 Billion in crypto under custody on the exchange. The crypto under custody score has more than doubled ever since the start of 2021 for the portal. The team has managed to pull off the accomplishment through the impressive growth in the crypto market space and the entry of new institutional investors.

According to Gemini exchange review, the exchange boasts of a strong customer community that includes asset managing firms, hedge funds, business treasuries, and trading firms. A few weeks back, the team launched the Gemini Fund Solutions portal to cater to the requirements of fund managers and entities by offering services related to custody, trading, and market tools for crypto funds. The solution has served to crypto fund supporters more than any other entity in the space.

The team has aided the launch of various exchange-supported crypto fund projects such as Ether ETFs and the first American Bitcoin. The custodial services of Gemini have been utilized by the leading asset managing firms like DAiM, BlockFi, Blockchange CoinList, WealthSimple, etc. The unprecedented crypto funds tools have managed to establish Gemini as a popular name in the industry.

Highlights of Gemini Custody

  • Legal Status: Gemini Trust Company, LLC is a duly registered trust firm in New York. It is a legal custody provider licensed by the New York State Department of Financial Services (NYDFS) under Section 100 of the New York Banking Law. The firm is liable to NYDFS capital reserve requirements too.
  • Gemini is a SOC 1 Type 2 and SOC 2 Type 2 conforming entity.
  • The sub-accounts feature helps users manage various accounts with different clients, balances, and addresses under the supervision of a single master account interface.
  • The assets are held in custody offline via hardware security modules, multisig feature, and monitored access facility.
  • The use of WebAuthn to safeguard the assets in the account keeps the intruders away by restraining access even with a password.
  • Easy and instant trading of assets held in the custody of the exchange. Checking of balances, withdrawals, and account statements can be received quickly.
  • The users are allowed to form a trusted address list so that withdrawals are channeled to only those accounts that are on the list given by the investor.

Roxanne Williams

Roxanne Williams has recently joined as a market reporter for CryptoNewsZ - the 24/7 crypto news site, where she produces recent stories, technical analysis and price updates on world's leading cryptocurrencies.

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