blokt.com
As the crypto winter continues, many retail investors are saying goodbye to the market, but for Cameron and Tyler Winklevoss, they believe big opportunities in cryptocurrency still exist.
The operators of the Gemini crypto exchange- which provides both trading and custodial services to users and launched the Gemini Dollar (GUSD) stablecoin earlier this year, are looking forward to 2019019. Gemini is currently working on expansion plans in Asia.
Retail Investors Can Come Back
The Gemini Trust Co., a New York-registered company, run by the twins is trying to lure investors back into the market with a new app. The mobile app will facilitate crypto trading on their exchange
Retail investors have been moving away from digital currencies as Bitcoin has shaved off almost 80 percent of its value since the beginning of the year. The crypto market hasn’t seen a strong sign of a bullish reversal yet, making it a bad time for crypto exchange operators as well.
However, the Winklevoss brothers don’t feel deterred by the crypto winter. In a recent interview with Bloomberg at Gemini’s Flatiron District, Manhattan headquarters, Tyler Winklevoss said:
“We’re totally at home in winter.”
Cameron added:
“It gives us time to build internally, and refine and kind of catch our breath.”
Gemini recently moved into a new office filled with space exploration references, nodding Project Gemini, a NASA spaceflight program.
Gemini’s Goals for 2019
Gemini is focused on bringing more users to their new app in the coming year. In addition, Gemini is also looking forward to institutional investments in the space, which according to some experts, could help in bringing back a bull market to cryptocurrencies.
The trust company provides custodial services to institutional investors and uses NASDAQ’s market surveillance technology, working as a fiduciary regulated by the New York Department of Financial Services.
The exchange is aware that some of its activities give off the “institutional-friendly” vibe. Cameron said:
“A lot of our decisions have perhaps given off a perception that we’re more institutional-based. The reality of the situation is that we have a diverse customer base. And the retail story is just beginning.”
Gemini is also planning to expand in Asia next year. Some of the largest cryptocurrency exchanges in the world are based in this region, including Huobi and Bitfinex, and Gemini might want to get a bigger share of the Asian market. Gemini is currently operating in the US, Canada, UK, South Korea, Singapore, and Hong Kong.
RELATED ARTICLES
MORE FROM OUR PARTNERS
Advertisement
[blokt] is a leading independent blockchain news outlet that maintains the highest possible professional and ethical journalistic standards. Journalists are required to meet our editorial policies and guidelines.