Gemini, the cryptocurrency exchange founded by the Winklevoss twins, is joining crypto-friendly bank Silvergate's Silvergate Exchange Network to speed fiat transfers.
Gemini announced the move in an official blog post on Aug. 27.
According to the announcement, the main benefit of the exchange's partnership with Silvergate is that Gemini's institutional investor clients can withdraw and deposit United States dollars from their accounts at any time.
The announcement states that Gemini is integrated into SEN's application programming interface.
Integrating with SEN's API reportedly enables Gemini to process their customers' deposit and withdrawal requests automatically, in real time.
According to a filing with the U.S. Securities and Exchange Commission, Silvergate gained almost 60 new crypto customers in the last quarter of 2018.
Per the filing, Silvergate served 542 clients involved in digital currency, whereas it reported 483 to the SEC in September 2018.
In the more recent filing, Silvergate summarized the scale of the crypto market.
As previously reported by Cointelegraph, Gemini announced last week that it is expanding into Australia.
Its cryptocurrency exchange and custodial services will be available for Australian residents via mobile apps on iOS and Android.
Gemini Joins Silvergate Exchange Network for 24/7 Fiat Money Transfers
gepubliceerd op Aug 27, 2019
by Cointele | gepubliceerd op Coinage
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