Gemini Exchange Records Higher Demand From Institution Investors
Gemini is currently one of the most preferred crypto platforms for institutional investors as the exchange reports higher crypto custody. The digital asset has seen some new demands from new institutional investors as the sector has become very profitable for holders.
Over the past few months, Bitcoin’s growth has attracted investments from mainstream firms as they explore some new investment opportunities with the growing sector. On Tuesday, the exchange shared how its current crypto under custody went above the $25 billion mark for the first time. This shows that the business records higher volumes and has become one of the preferred platforms from both retail and institutional buyers.
Tyler Winklevoss announces milestone
The platform is owned by the crypto industry’s Tyler and Cameron Winklevoss, and it has grown very popular in the past years. Geminin’s recent growth has been astonishing and surprising, and it linked the new numbers to the participation of institutional buyers. The firm’s crypto under custody doubled during this year’s beginning, and this is not surprising due to the large numbers of deep-pocket buyers joining the industry around that time.
The company has a custodian service, which helps holders with large crypto holdings secure and manage their assets. The business shared some of its well-known clients, including Caruso, BlockFi, Wealthsimple, and others.
One of the business’s founders, Tyler Winklevoss, was amongst the first to share the great news on social media. The Winklevoss brother revealed on Twitter that Gemini has more than $25 billion cryptos in its custodian platform, and this news excited some people on social media. Asides from the massive quantity of assets under its custody, Gemini has been recording high trading volumes.
Messari shared that Gemini had a trading volume of around $381 yesterday, showing that the exchange is enjoying stronger patronage. The crypto exchange is one of the most loved trading platforms globally as it complies with regulations.
Gemini’s stance on regulatory compliance
People raise the firm’s stance on XRP, as the business refused to list the crypto despite the massive demand for the coin. This is quite different from other businesses that listed the controversial coin but had to remove it due to the ongoing lawsuit against Ripple.
The suit led to the continuous decline of the XRP token, but this is no longer the case. The token continuous to record new gains, and this has encouraged interested holders to buy the token. Gemini has also achieved many feats regarding its stance on compliance as it was the first virtual asset exchange to have SOC 2 Type 2 Evaluation approval.
The firm has complied with numerous regulations and has had its SOC 2 Type 1 evaluation completed since 2019. This makes the crypto exchange one of the most popular trading platforms amongst large-scale buyers. Asides from its crypto exchange, Gemini has allowed holders to secure large crypto amounts through its custodian services and provide management services through Gemini Fund Solutions. This will help holders get access to a professional tool to manage their portfolios.
