Gemini Crypto Exchange Surpasses $20 Billion in Custody

Share Article
In Brief
  • Gemini’s asset under management exceeds $20 billion

  • The figure has doubled in the last two months

  • Digital asset management companies continue to witness massive influx

  • promo

    BIT Launchpad: Up To 3,500 FREE BIT. Don’t Miss The Beat. Join Now!

The Trust Project is an international consortium of news organizations building standards of transparency.

Gemini Exchange announced today that they have surpassed $20 billion of crypto assets under their custody.

Sponsored



Sponsored

The Winklevoss twins, Tyler and Cameron, founded Gemini. The company announced that the amount of crypto assets in its custody doubled in the past two months. Gemini now manages around $20 billion worth of cryptocurrencies.

Bitcoin’s growth accounts for the drastic influx of retail and institutional traders. Gemini currently caters to a wide range of investors. They include hedge funds, trading firms, and asset managers.

Sponsored



Sponsored

Gemini adopts the most secured means of storage for its clients. Its cold wallet coupled with hardware security keys ensures maximum security. It also adopts the SOC 2 Type 2 compliance. This records how a company safeguards customer’s data.

Also, the company recently introduced the Gemini fund solutions on March 4, 2021. The new platform provides services for fund managers. These include custody, clearing, and trade execution. It will introduce “rapid, reliable, and comprehensive access to the world of crypto”.

Digital Asset Custodians Record Massive Influx

The rush on digital assets led to record jaw-dropping portfolio additions for asset managers. Bitwise crossed a landmark $1 billion in assets under management last month.

Additionally, Grayscale’s asset under management skyrocketed in the past year. It grew by over $23 billion since January last year. Its AUM recently hit the $25 billion mark. Spurred by the success of its bitcoin trust, Grayscale is looking towards other digital assets. It made the announcement late last month.

Disclaimer

All the information contained on our website is published in good faith and for general information purposes only. Any action the reader takes upon the information found on our website is strictly at their own risk.
Sponsored
Share Article

Daniel is an avid blockchain and cryptocurrency enthusiast. He gained interest in the digital asset space in 2017. Since then, he started writing educational content to spread the word on the distributed ledger technology.

Follow Author

Market signals, studies and analysis! Join our Telegram Today!

Go

Bit2Me ICO JUST STARTED! Buy B2M token now.

Buy now!

BIT Launchpad: Up To 3,500 FREE BIT. Don't Miss The Beat.

Join Now!