Winklevoss Twins Reiterates Gemini's Plans to Go Global

By Abhimanyu Krishnan | News | 12 May 2020

New York-based cryptocurrency exchange Gemini, owned by the Winklevoss twins, is taking steps towards a more global reach, as suggested by Cameron Winklevoss, who was speaking at the ongoing Consensus: Distributed conference on May 11.

Gemini has been looking into the European market since 2019, a big move for a company that has been documented as being one for compliance. The exchange is currently building its business strategy for Europe, having been on a hiring spree for multiple senior roles. 

Speaking of the expansion, Winklevoss said,

It's sort of a very obvious next step for us [...] in the months or quarters to come as we expand into Europe—into Asia as well.

Both the twins are highly bullish on Bitcoin and staunchly defend its value in solving financial equality.

Dollars are the only available fiat option currently, but Winklevoss states that as the service launches in Europe, the Euro and pound will also be options. Following this, Gemini even wishes to expand to Asia, which has its own love affair for crypto, though the market share is largely controlled by Binance and Huobi. 

Asia is another lucrative space for the exchange - but the global market is fraught with far more competition than the US. Exchanges like Binance have already established quite a strong foothold in Asia, while several others also see high trading volumes. Gemini will face an uphill battle, but its compliance first approach has seen it through in the US market.

Gemini has also worked on its listings this year, adding four new assets: Orchid Protocol (OXT), DAI, Chainlink (LINK) and Basic Attention Token (BAT). The exchange is known for its very limited offering of assets, previously only listing Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Litecoin (LTC) and Zcash (ZEC)

Cameron Winklevoss also spoke of the Bitcoin halving, saying that fiat had changed drastically, suggesting that Bitcoin has value because of it,

The talking points have been the same since we got into Bitcoin about eight years ago and the first halving, but the dynamics of fiat regimes has drastically changed.

Tyler Winklevoss says that he expects the next four years to be the best in Bitcoin’s life,

It seems like every four years, things improve by an order of magnitude, whether it's price, the human capital coming into the space, the projects. So, I expect the next four years to be the best four yet.

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Abhimanyu Krishnan
Abhimanyu Krishnan

Technophile, cryptocurrency enthusiast and journalist.


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