Copy link
Increase text size
Decrease text size
Link copied

Winklevoss twins-owned Gemini joins Silvergate Exchange Network for 24/7 payments transfer

Image Credit: www.rakeenbd.com

Wed, 28 Aug 2019, 04:30 am UTC

Winklevoss twins-backed cryptocurrency exchange Gemini has joined crypto-friendly U.S. bank Silvergate Exchange Network (SEN) to offer fast fiat transfers.

Under the partnership, Gemini’s institutional clients can now transact in U.S. dollars “24 hours a day, 7 days a week, and 365 days a year.” Of note, although this activity is industry standard for cryptocurrencies, “fiat currencies have for the most part remained shackled to ‘banking hours’ or ‘business hours’,” a blog post noted.

The announcement further revealed that Gemini is integrated into the SEN’s cloud-based application programming interface (API), allowing the exchange to process clients’ deposit and withdrawal requests immediately and in real-time.

Last week, SEN revealed that it plans to offer cryptocurrency-collateralized loans in its updated IPO filing with the United States Securities and Exchange Commission after it witnessed “significant demand” from its existing and prospective customers for borrowing for the purposes of buying digital currency.

The planned service would involve the borrower providing digital currency or U.S. dollars as collaterals in an amount that is significantly greater than the line of credit. The bank plans to collaborate with one or more of its exchange clients to implement the solution and projects to launch the credit product later this year to select institutional clients.

Gemini, on the other hand, announced that it will expand its services to Australia, allowing local crypto users to access the Gemini Mobile App to sell, buy, and trade cryptocurrencies, including bitcoin, bitcoin cash, ether, zcoin, and litecoin.

The Australian branch is Gemini’s sixth international location. The exchange’s services are now live in Canada, South Korea, Hong Kong, Singapore, and the United Kingdom.

TokenPost | [email protected]

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
More
  • Bitcoin (BTC) $9,619.11 (-1.89%)
  • Ethereum (ETH) $239.92 (-1.69%)
  • XRP (XRP) $0.224600 (+0.84%)
  • Bitcoin Cash (BCH) $255.90 (-0.50%)
  • Bitcoin SV (BSV) $195.89 (-0.90%)
  • Bitcoin (BTC) $9,619.11 (-1.89%)
Feb 21, 2020 (Friday)
12:01
Paxos launches blockchain-based securities settlement solution with Credit Suisse and Instinet
12:00
Brazil to launch new payment system in response to cryptocurrencies
11:59
Digital currency exchange Coinbase Pro lists Kyber Network token
11:57
Norwegian Air to soon start accepting crypto payments
10:21
Swedish central bank begins CBDC pilot with Accenture
09:51
Italian soccer team Juventus launches ethereum-based digital collectibles with Sorare
Feb 20, 2020 (Thursday)
14:16
Telecom companies complete cross-carrier mobile payments using blockchain
11:53
National Stock Exchange of Australia to develop DLT-based digital securities trading platform
11:00
South Korean ICO project discontinued, to return $7.5M to token holders
10:36
Samsung maintains crypto support in soon-to-launch Galaxy S20
09:41
BIS appoints Innovation Hub heads to lead Singapore and Switzerland
09:15
Coinbase becomes first crypto company to receive Visa principal membership
08:59
Dubai Economy and six banks launch KYC Blockchain Consortium
08:26
Crypto Technicals: ETH/USD under downside pressure after 'Bearish Engulfing' pattern
07:12
Tim Draper buys $1M worth of Aragon Tokens to create digital courts for DAOs
06:13
Renewable energy firm Acciona commits to take CBI’s blockchain-based carbon credits trading platform global
05:02
Crypto Technicals: BTC/USD trades below 21-EMA, break below 4H 200 MA (9386) to trigger further downside
04:56
Crypto exchange Coinfloor to launch a simplified bitcoin buying service
04:35
Indonesia’s customs department joins IBM- Maersk blockchain shipping platform “TradeLens”
Feb 19, 2020 (Wednesday)
12:46
Crypto custodian BitGo acquires digital securities startup Harbor
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.
PUBLISHsoft