Gemini Trust Company, a U.S.-based cryptocurrency exchange and custodian, announced on Tuesday the launch of its new institutional-grade crypto custody solution, Gemini Custody. Gemini reported that the solution was built from the ground up to meet the “complex and high-stakes” need of modern financial institutions. The solution also supports nearly 20 cryptocurrencies.
“Gemini Custody stores customer crypto offline using hardware security modules (HSMs), multi-signature technology, and geographically distributed access-controlled facilities. In addition, customers can secure their accounts with hardware security keys and restrict crypto withdrawals to crypto addresses they whitelist.”
While sharing more details about the solution, Tyler Winklevoss, CEO of Gemini, stated:
“The maturation of crypto as an asset class depends heavily on the safety and soundness of the custodians that hold individual and institutional funds. 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. We are thrilled to continue our security-first tradition by providing our customers with Gemini Custody, an expanded offering of our state-of-the-art custody solution.”
Jeanine Hightower-Sellitto, Managing Director of Operations at Gemini, added:
“Institutional investors have demonstrated a clear and growing demand for crypto, but they’ve struggled to find a solution that fully meets their complex regulatory and security requirements. Gemini Custody is the only crypto-native solution in the market today that meets these complex requirements without sacrificing security or liquidity.”
The cryptocurrency currently supported by the solution are Bitcoin, Bitcoin Cash, Ether, Litecoin, Zcash, and the following ERC-20 tokens: 0x (ZRX), Augur (REP), Basic Attention (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).