CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
US English

Gemini Trust looks to acquire more crypto assets

By Monte Stewart


Updated

Gemini Trust screen
Gemini Trust believes institutional interest in crypto will increase - Photo: Shutterstock

Gemini Trust is aiming to accumulate more cryptocurrency-related assets on the belief that institutional investor adoption of crypto and the blockchain will increase.

The company operates a crypto exchange that allows customers to buy, sell, and store digital assets.

"We expect institutional adoption to continue picking up steam in the coming years,” Dave Abner, Gemini’s global head of business development, told Capital.com on Friday. “The past year was a pivotal moment for institutions as digital assets became the best performing asset class of the past 10 years, and we saw Bitcoin prices reach a new baseline.

“We think of institutions like a cruise ship. It takes time for them to turn, but once they have decided to incorporate crypto into their strategies it is just a function of connecting with their service providers and setting up the strategies,” Abner said.

Landscape has evolved

On Thursday, Gemini acquired trading platform provider Omniex in order to serve more institutional investors.

Pending closure of the transaction in the second quarter of this year, the Omniex acquisition will be Gemini’s sixth. The deal came after Gemini acquired Bitria, a crypto-asset portfolio management platform for wealth and assets managers last week.

“As you can see, we're always looking at the market for acquisitions to help us grow our business by either adding capabilities that we weren't planning on building or to speed up our development process, giving us features that might take longer to build than to buy,” Abner said.

What is your sentiment on BTC/USD?

66596.25
Bullish
or
Bearish
Vote to see Traders sentiment!

Gemini prime

Omniex, which posts crypto prices on about 35 exchanges and over-the-counter (OTC) trading desks, will be rolled into a new crypto brokerage service package known as Gemini Prime. Gemini has been offering the prime service to a select client base over the past year.

Abner said the acquisition allows Gemini to expand its offerings and scale up its capabilities to serve thousands more institutional investors in coming years.

ETH/USD

3,490.37 Price
-0.590% 1D Chg, %
Long position overnight fee -0.0616%
Short position overnight fee 0.0137%
Overnight fee time 21:00 (UTC)
Spread 6.00

SOL/USD

169.30 Price
-0.810% 1D Chg, %
Long position overnight fee -0.0753%
Short position overnight fee 0.0069%
Overnight fee time 21:00 (UTC)
Spread 2.2652

XRP/USD

0.60 Price
+3.380% 1D Chg, %
Long position overnight fee -0.0753%
Short position overnight fee 0.0069%
Overnight fee time 21:00 (UTC)
Spread 0.01167

BTC/USD

66,596.25 Price
-0.690% 1D Chg, %
Long position overnight fee -0.0616%
Short position overnight fee 0.0137%
Overnight fee time 21:00 (UTC)
Spread 106.00

“The crypto landscape has evolved in recent years to look much more like the traditional financial ecosystem, but tailored specifically to the digital asset class,” he said. “At Gemini, we want to be the bridge between traditional finance and crypto finance.”

The full rollout of Gemini Prime will integrate Omniex with Gemini’s existing custody, clearing and OTC trading capabilities, and simplify trading for institutional investors. Gemini pledged to provide a single access point to multiple exchanges and OTC liquidity sources, tools and algorithms to ensure best execution and trade transparency, and an institutional-grade trading experience.

Three purchases in 2021

In 2021, Gemini acquired Guesser, Blockrize, and Shard X.

By acquiring Guesser, Gemini obtained a crypto real-time predictions platform. Through Blockrize, Gemini launched a credit card that allows users to earn rewards in Bitcoin. ShardX is a startup company that develops security technology for crypto custodians.

In 2019, Gemini acquired Nifty Gateway, a platform for trading non-fungible tokens (NFTs) known as nifties. Nifty Gateway facilitates nifty purchases purchases for some of popular crypto-games and applications, including OpenSea, Gods Unchained, and CryptoKitties. With Nifty Gateway, users can purchase NFTs directly with traditional money, known as fiat currency, using their credit cards.

Abner called Gemini “an active participant in the growth of the crypto ecosystem.

Read More: Twitter adds NFT integration for profile pictures

 

Related topics

Rate this article

The difference between trading assets and CFDs
The main difference between CFD trading and trading assets, such as commodities and stocks, is that you don’t own the underlying asset when you trade on a CFD.
You can still benefit if the market moves in your favour, or make a loss if it moves against you. However, with traditional trading you enter a contract to exchange the legal ownership of the individual shares or the commodities for money, and you own this until you sell it again.
CFDs are leveraged products, which means that you only need to deposit a percentage of the full value of the CFD trade in order to open a position. But with traditional trading, you buy the assets for the full amount. In the UK, there is no stamp duty on CFD trading, but there is when you buy stocks, for example.
CFDs attract overnight costs to hold the trades (unless you use 1-1 leverage), which makes them more suited to short-term trading opportunities. Stocks and commodities are more normally bought and held for longer. You might also pay a broker commission or fees when buying and selling assets direct and you’d need somewhere to store them safely.
Capital Com is an execution-only service provider. The material provided in this article is for information purposes only and should not be understood as investment advice. Any opinion that may be provided on this page does not constitute a recommendation by Capital Com or its agents and has not been prepared in accordance with the legal requirements designed to promote investment research independence. While the information in this communication, or on which this communication is based, has been obtained from sources that Capital.com believes to be reliable and accurate, it has not undergone independent verification. No representation or warranty, whether expressed or implied, is made as to the accuracy or completeness of any information obtained from third parties. If you rely on the information on this page, then you do so entirely at your own risk.

Still looking for a broker you can trust?

Join the 630,000+ traders worldwide that chose to trade with Capital.com

1. Create & verify your account 2. Make your first deposit 3. You’re all set. Start trading