Gemini exchange reported an important milestone yesterday: the total cryptocurrency that is held in custody has reached more than $25 billion for the first time.
Gemini has attributed this spectacular growth to institutional investors becoming involved, which has made its assets double since 2021 began.
The company released a statement which reads as follows: “Our custodial services are used by some of the world’s largest asset managers including BlockFi, Blockchange CoinList, CI Global Asset Management, DAiM, BTG Pactual, Caruso, Eaglebrook Advisors, and WealthSimple.”
Its founder, Tyler Winklevoss, celebrated on Twitter writing: “@Gemini now has over $25 billion in crypto under custody. To the moon!”
As of today, the 24-hour trade volumes for Gemini have surpassed $381 million, which places the company in the 13th spot, according to the online database Messari.
Gemini has created a good rep for its name as a result of the fact that it is one of the most compliant digital currency exchanges in the world. For example, while many important exchanges were in a hurry to delist XRP following the SEC lawsuit, Gemini didn’t have to worry about it.
In 2020, the firm became the first digital currency exchange that completed a SOC 2 Type 2 evaluation, which served as proof of its operational security.