Sunday, January 24, 2021

Winklevoss twins new custody service to support 18 major cryptocurrencies

The Takeaway:

Winklevoss' Gemini announced the launch of Gemini Custody. Initially, it would support 18 major cryptocurrencies. Hardware Security Keys, Instant liquidity, and Offline storage are among other many services that Gemini Custody would provide to its customers.

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Winklevoss twins’ company announced the launch of Gemini Custody yesterday. Bitcoin, Ether, and Bitcoin Cash are among the 18 cryptocurrencies that the custody will support. This qualified custody service is chartered by the New York State Department of Financial Services. 

Tyler Winklevoss wrote in a blog post that customers would be able to trade their assets in custody on the Gemini exchange without getting them to transferred from cold storage. He further added that security has been a pillar of Gemini since the inception and protecting their customers’ crypto is their primary focus. The twins will conduct a webinar on 7th October to discuss the Gemini Custody. 

Gemini Custody will provide instant liquidity, sub-accounts, among other many services. Customers will be able to check balances, download account statements, initiate withdrawals, and give auditors view-only access account to confirm balances, transactions, and activity with its new web interface and account features. 

Gemini has been offering custodial services since its launch in 2015, but with Gemini Custody, the company has significantly expanded its services in this field. Earlier this month much anticipated Bakkt warehouse custody also went live as they started accepting bitcoin on 6th September. Let us know in comments what do you think about services that Gemini Custody would provide?

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Disclaimer: The article reflects the opinions of the author and is not representative of Chaintimes’ views.
The article does not offer any investment advice. User discretion is advised when investing in or trading with cryptocurrency. Extensive and diligent research should be carried out by the reader before making a decision.

William Botello
William Botello
William is a market research coordinator who believes that blockchain technology and cryptocurrencies can revolutionize the financial landscape. He completed his studies in Arts and Sciences from Arizona State University.

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