The New York-based Gemini cryptocurrency exchange, founded in 2014 by twin brothers Cameron and Tyler Winklevoss, has launched its own custody service, Gemini Custody.
In a press release shared with Cointelegraph on September 10, Gemini states that the custody solution will allow its clients to verify balances, download account statements, initiate withdrawals and grant auditors access only by sight to confirm balances, transactions and activities .
Customers can also negotiate their assets in custody in the Gemini exchange without having to wait for them to be transferred from the offline warehouse.
18 assets backed
Gemini Custody supports 18 cryptocurrencies including Bitcoin (BTC), Bitcoin Cash (BCH), Ether (ETH), Litecoin (LTC), Zcash, 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).
Gemini CEO Tyler Winklevoss said that the much-needed maturation of cryptos as an asset class depends on the security of custody. He added:
"From day one, Gemini recognized the need for a world-class custody solution that is safe, compatible and easy to use for individuals and institutions around the world."
Jeanine Hightower-Sellitto, Gemini's chief operating officer, explained that institutional investors have demonstrated a clear and growing demand for cryptos, but that some struggle to find a solution that fully complies with complex regulatory and security requirements.
Tyler and Cameron Winklevoss recently said they are open to partner with Mark Zuckerberg on Facebook's stablecoin project, Libra. Cameron argued that Libra represents a step forward in the massive adoption of cryptocurrencies.
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