Gemini Launches an Institutional-Grade Crypto Custody Solution

Gemini announced the launch of an Institutional-Grade Crypto Custody Solution, Gemini Custody.

As of now, Gemini Custody supports 18 cryptocurrencies. The current supported cryptocurrencies include Bitcoin, Bitcoin Cash, Ether, Litecoin, Zcash, and the following ERC-20 tokens: 0x (ZRX), Augur (REP), Basic Attention (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).

Customers can instantly trade their crypto in custody on the Gemini exchange without waiting for it to be transferred out of cold storage, the announcement notes.

Executive Opinion

CEO of Gemini, Tyler Winklevoss, said, "The maturation of crypto as an asset class depends heavily on the safety and soundness of the custodians that hold individual and institutional funds. From day one, Gemini recognized the need for a world-class custody solution that is secure, compliant, and easy to use for individuals and institutions around the world. We are thrilled to continue our security-first tradition by providing our customers with Gemini Custody, an expanded offering of our state-of-the-art custody solution."

Managing Director of Operations at Gemini, Jeanine Hightower-Sellitto, said, "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. Gemini Custody is the only crypto-native solution in the market today that meets these complex requirements without sacrificing security or liquidity."

Gemini Custody Offering

The company noted that its Gemini Custody offering is built to comply with the complex and high-stakes needs of modern financial institutions. Gemini also allowing their customers to trade their crypto from the custody on the Gemini exchange.

With the help of hardware security modules (HSMs), multi-signature technology, and geographically distributed, access-controlled facilities, cryptos are stored offline at Gemini Custody. The offering also allows customers to secure their accounts with hardware security keys and restrict crypto withdrawals to crypto addresses they whitelist, the announcement notes.