A major milestone was reached on Tuesday by Gemini exchange as total cryptocurrency held in custody surpassed $25 billion for this first time. Gemini is an exchange company owned by Tyler and Cameron Winklevoss.
Since 20221, Gemini Custody’s assets have more than doubled. Also, Gemini touted growing participation from institutional investors over the past year, in charting its impressive growth.
“Our custodial services are used by some of the worlds largest asset managers including BlockFi, Blockchange CoinList, CI Global Asset Management, DAiM, BTG Pactual, Caruso, Eaglebrook Advisors, and WealthSimple,” the company said in a statement.
The outspoken Tyler Winklevoss tweeted about the milestone on Tuesday:
As of Tuesday, Gemini’s 24-hour trade volumes had eclipsed $381 million, putting it in the 13th spot, according to Messari.
Gemini has carved out a reputation as being one of the most compliant digital currency exchanges on the market. Whereas most major exchanges scrambled to delist XRP in the wake of a Securities and Exchange Commission lawsuit, Gemini was never persuaded to list the controversial cryptocurrency.