In a news release shared with Cointelegraph on Sept. 10, Gemini said the newly launched custody solution will allow its customers to check balances, download account statements, initiate withdrawals, and grant auditors view-only access to confirm balances, transactions and activity.
Customers will also be able to trade their assets in custody on the Gemini exchange without waiting for them to be transferred from cold storage.
Gemini Custody reportedly supports 18 cryptocurrencies including Bitcoin (BTC), Bitcoin Cash (BCH), Ether (ETH) and Litecoin (LTC), as well as the following ERC-20 tokens: 0x (ZRX), Augur (REP), Basic Attention Token (BAT), Bread (BRD), Dai (DAI), Decentraland (MANA), Enjin (ENJ), Flexacoin (FXC), Gemini dollar (GUSD), Kyber Network (KNC), Loom Network (LOOM), Maker (MKR) and OmiseGo (OMG).
Gemini CEO Tyler Winklevoss said that the much-needed maturation of crypto as an asset class depends on custodial security. He added:
“From day one, Gemini recognized the need for a world-class custody solution that is secure, compliant, and easy to use for individuals and institutions around the world.”
Jeanine Hightower-Sellitto, managing director of operations at Gemini, explained that institutional investors have demonstrated a clear and growing demand for crypto, but that some struggle to find a solution that fully meets complex regulatory and security requirements.
Tyler and Cameron Winklevoss recently said they are open to partnering with Mark Zuckerberg on Facebook’s Libra stablecoin project. Cameron argued that Libra represents a step forward in the mass adoption of cryptocurrency.
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