Crypto exchange Gemini joins BT Radianz Cloud community

Cryptocurrency exchange Gemini has joined the British Telecommunications (BT) Radianz Cloud community, BT Radianz said in a press release dated February 27.

Founded in 2000, BT Radianz is a subsidiary of telecom giant BT Group. It described Radianz Cloud as “the world’s largest, secure networked financial cloud communities” consisting of “thousands of brokers, institutions, exchanges and clearing and settlement houses.”

According to the press release, members of the Radianz Cloud community would now be able to access the growing cryptocurrency market via Gemini.

On the other hand, by joining Radianz Cloud, Gemini would be able to tap its “global market reach and ability to scale with a commercial structure familiar to large institutions.”

"Adding Radianz Cloud connectivity to our current low latency offerings in the NY5 data centre allows our existing institutional customer base to access our FIX interface whether they are directly connected or in AWS. This strengthens our institutional investor connectivity and helps us better scale our offerings in this space," said Nick Vigier, chief information officer at Gemini.

Michael Woodman, managing director of BT Radianz, explained that global financial institutions have very specific requirements about the performance, resilience and security of the infrastructure over which they trade, which could make it difficult for small or new service providers to grow.

“By joining the Radianz Cloud, Gemini achieves the reach and scale demanded by global institutions and benefits from an established framework for doing business with them,” he added.

Back in September 2017, Cobalt, an FX post-trade processing network based on distributed ledger technology, also joined the BT Radianz Cloud. In a press release dated July 2018, BT said that Cobalt is offered as two solutions hosted independently in Radianz Cloud centres in London and New York.