According l 'Gemini cryptocurrency exchange, OTC or OTC trading on the new platform Gemini Clearing they can be made either between two parties or through third-party brokers. Let's find out all the details in this guide.
Gemini Clearing, in the new service of the Exchange Gemini
Gemini has developed a new compensation solution and digital regulation. Appointed Gemini Clearing, the new service allows traders to trade off-exchange cryptocurrencies or over-the-counter (OTC) using Gemini accounts.
According to the same company, over-the-counter or OTC trading on the Gemini Clearing platform can be carried out either between two parties or through third-party brokers.
Jeanine Hightower-Sellitto, Gemini Managing Director of OperationsSaid:
"These operations can be organized bilaterally between two parties or through a third party. Gemini Clearing provides digital clearing and settlement services for these pre-established transactions, which helps to ensure timely settlement and mitigate counterparty risk."
Among others benefits of Gemini Clearing deserve mention la privacy (commercial details are known only to interested parties and are not published through the Gemini market data feed), the counterparty risk (the transfer of funds between Gemini accounts takes place only after both parties are fully funded) e regulations (as each part is subject to the Gemini KYC and BSA / AML program).
As noted by the company, the new service will be available to anyone, including institutional and retail traders.
This makes it different from the other Exchange of the caliber of Huobi e Coinbase, who launched their OTC services exclusively for professional and institutional clients.
Gemini pushes the adoption of digital money
Gemini is a Cryptocurrency Exchange regulated by the New York State Department of Financial Services (NYSDFS).
Founded in 2014 by Cameron e Tyler Winklevoss, the Exchange Gemini operates in the United States, Canada, the United Kingdom, South Korea, Hong Kong and Singapore.
In July, the Gemini founders were considering joining theLibra Association, the consortium behind the Facebook project.
The news surprised the Crypto Community, since previously the Winklevoss brothers disagreed with Mark Zuckerberg.
In August, Gemini announced its partnership with Silvergate Exchange Network (SEN), a USD payment platform.
SEN has allowed Gemini institutional clients to deposit and withdraw US dollars from their accounts in real time.
With this integration, the Exchange Gemini can also establish relationships with other members of the network by making instant transfers.
Recently, Gemini welcomed a new member of his team. The company took over Noah Perlman, former global head of financial crime at Morgan Stanley, as the new Chief Compliance Officer.