Gemini Trust Company, LLC (Gemini), a cryptocurrency exchange and custodian, today launched Gemini Custody, a Qualified Custodian for crypto. Built from the ground up to meet the complex and high-stakes needs of modern financial institutions, Gemini Custody supports 18 cryptocurrencies with support for many more coming soon. In addition, customers can instantly trade their crypto in custody on the Gemini exchange without waiting for it to be transferred out of cold storage. Gemini Trust Company, LLC (Gemini) is a cryptocurrency exchange and custodian that allows customers to buy, sell, and store cryptocurrencies like bitcoin, bitcoin cash, ether, litecoin, and zcash. Gemini is a New York trust company that is subject to the capital reserve requirements, cybersecurity requirements, and banking compliance standards set forth by the New York State Department of Financial Services. Twin brothers Cameron and Tyler Gemini founded Gemini in 2014 to build a bridge to the future of money. Gemini is also regulated by New York Banking Law.
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A new interface allows customers to check balances, download account statements, initiate withdrawals, and more. Customers can also grant auditors view-only access to confirm balances, transactions, and activity. The sub-accounts feature gives customers the ability to create and manage multiple accounts with distinct sets of users, account balances, and unique, independently verifiable crypto addresses all under a single master account. Gemini CEO Tyler Winklevoss recognizes the need for state of the art custody solution which is secure reliable and compliant with the rules and regulations.
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This world-class solution could then be used by institutions and organizations around the world. Keeping the goal in mind for keeping organization safe secure Gemini has launched its own Gemini Custody solution which follows the security-first approach. He also stated that to gain confidence in the cryptocurrency the custodian responsible for holding individual and institutional funds have to first be resilient and stay ahead of the cyber frauds.
Source: Yahoo Finance
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