Altcoin News: Crypto Exchange Gemini Launches Custody Services

September 10, 2019, by Marko Vidrih on ALTCOIN MAGAZINE

The American cryptocurrency exchange Gemini this Tuesday launched its own custodial service, Gemini Custody.

According to the company, the new service, in addition to storing assets, will allow customers to check balances, download statements of cash flows and provide third-party firms with limited access for audits. In addition, funds located in Gemini Custody can be used for trading on the exchange without the need to expect their withdrawal from the cold storage.

Gemini Custody supports 18 cryptocurrency assets, including Bitcoin, Bitcoin Cash, Ethereum, Litecoin, Zcash, as well as a number of ERC20 tokens.

As Bloomberg notes, the service is primarily focused on attracting institutional investors to the company’s products.

“Gemini Custody is the only crypto solution that meets the complex requirements of institutions without cutting corners on security, experience, or support,” said Jeanine Hightower-Sellitto, managing director of operations for Gemini.

How much money is already under the control of Gemini Custody, representatives of the exchange refused to say.

Author: Marko Vidrih