3,2,1…Let the countdown begin, Thursday October 8th at 9:30am the anticipated fully regulated US bitcoin exchange, Gemini, will be open for business. The founders, Cameron and Tyler Winklevoss, once again prove two heads are better than one. They have received approval from New York State Department of Financial Services and Gemini customers will now be able to buy and sell bitcoin for fiat currency through Gemini.
Gemini is made up of quite an impressive team, lead by the Winklevoss twins, including security experts and top financial engineers. They have partnered up with Signature Bank in New York so all money traded though Gemini will not leave the US. Since the company itself cannot provide FDIC insurance, working with this New York States chartered bank means now the money on Gemini will be eligible. With their own proprietary cold storage vaulting system we can see security is the Winklevoss’ top priority, as Cameron has said:
“Similar to other premier financial institutions Gemini is safe and compliant. In addition, we’ve built Gemini with a security-first mentality from day one.”
The trading platform is clean, sleek and simple to use. Gemini is targeting not only institutional customers but also individuals. It is for everyone from Bitcoin moguls to the first time Bitcoin user. You will even be able to see how your transaction will affect the market.
Being called the Google of Bitcoin, Gemini has a lot to live up to. It is bound to do big things for the Bitcoin ecosystem in the US and worldwide. Blastoff!