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Gemini, the crypto exchange platform by the Winklevoss brothers has announced that it will be creating a branch office in Chicago. This location will be focused on engineering and to that end, the firm just hired five engineers who used to work for Coinbase. This move is intended to provide safer trading security and efficiency, with the focus on Chicago being its reputation for birthing new markets.
In a Medium post, Tyler Winklevoss of Gemini announced the opening of the Chicago office. In the article, he noted Chicago’s history of being “the birthplace of commodities markets” and that is why they chose to have its latest branch in the metropolis. For the most part, the role that the office will play is to provide engineering innovations and support for the crypto trading and storage aspect of Gemini.
Winklevoss also noted how the crypto market is now seeing a resurgence in popularity and interest, citing bitcoin as a good example. Despite yesterday’s market wide slump, the crypto coins are rallying today.
“Since May, we’ve seen bitcoin increase in value and this week it surpassed its 17-month high. Trading volumes across the industry and mainstream interest in cryptocurrency are on the rise. The time has never been more right to double-down on our mission to build safe and reliable institutional-grade infrastructure,” the post reads.
Speaking to Coindesk, the Gemini co-founder addressed the matter of hiring five former engineers from Coinbase. As to be expected, it has to do with their “deep expertise in matching engines and marketplaces.”
“They’ll be primarily focused on that and building the core platform for our exchange and trading services that already exists,” he explained. “When we think about our exchange we start with reliability, speed, robustness, but also the product offerings so we don’t have a specific deadline I can give you in terms of what we’re targeting but we’re continuing to build out our product offering.”
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