Gemini Launches Custody for 18 Cryptos Including Bitcoin, Ether, Enjin and More

Gemini Launches Custody for 18 Cryptos Including Bitcoin, Ether, Enjin and More

 

Gemini is launching an institutional-grade crypto custody solution, the exchange announced Tuesday.

Through the Gemini Trust Company, a regulated custodian overseen by the New York Department of Financial Services (NYDFS), the Winklevoss-backed exchange now offers “Gemini Custody,” a platform which would enable clients to trade assets instantly by offering them credits.

Previously, clients would have to wait more than a day to access and trade assets. Gemini customers will be able to trade assets held offline without waiting to access them using the new system, the release said.

According to the release, customers can set up white lists, ensuring their crypto holdings can only be withdrawn to certain addresses; grant auditors access to confirm balances and activity; and set up different sub-accounts with different levels of permission as needed.

In a statement, Gemini managing director of operations Jeanine Hightower-Sellitto said Gemini Custody is a “crypto-native solution” which provides both security and liquidity for clients.

She continued: “Institutional investors have demonstrated a clear and growing demand for crypto, but they’ve struggled to find a solution that fully meets their complex regulatory and security requirements.” As part of its security efforts, Gemini Custody allows for multi-signature offline storage, the release said.

The custodian now provides support for bitcoin, bitcoin cash, ether, litecoin, zcash, 0z, Augur’s REP tokens, the basic attention token (BAT), bread (BRD), dai, maker, decentraland’s MANA token, enjin, flexacoin, the Gemini dollar, Kyber Network’s token, Loom Network’s token and OmiseGo.Gemini plans to add support for other cryptocurrencies as well.While many of the ERC-20 tokens were […]