Gemini Trust LLC, a licensed New York-based cryptocurrency exchange and custodian, has joined the BT Radianz Cloud community in a bid to take advantage of the latter’s global market reach and connectivity, according to a press release on February 27, 2019.
Gemini Expands Reach with BT Radianz Cloud
In a bid to expand its reach globally, Gemini, the cryptocurrency exchange founded by the Winklevoss twins has joined the British Telecommunications (BT) Cloud network.
Formed in 1980, BT claims to be one of the world’s largest, secure financial cloud networks, consisting of a vast array of brokers, exchanges and clearing houses and more. BT boasts of having a highly secure networked financial community that comprises of customers in over 50 nations across the globe and more than 40 of the most critical data centers. More importantly, the firm has stated explicitly that it helps members of its cloud community to address their regulatory requirements.
By joining BT’s Radianz Cloud ecosystem, Gemini will now benefit from the performance and reassurance of Radiance Cloud connectivity, while also opening its doors to other large institutions on the network.
More Efficient Services to Institutional Investors
Founded in 2014, Gemini is currently the 62nd largest cryptocurrency exchange in the world, with a 24-hour trading volume of $16.70 million.
Commenting on the latest development, Nick Vigier, chief information officer at Gemini noted that the addition of the Radianz Cloud connectivity to its existing offerings would make it possible for institutional clients to access its FIX interface in real-time, whether they are directly connected or via Amazon Web Services (AWS)
“Integrating Radianz Cloud connectivity to our existing low latency offerings in the NY5 data center gives our institutional customer base access to our FIX interface either through a direct connection or via AWS. This helps us to scale our offerings better while also strengthening our institutional investor connectivity,”
Michael Woodman, managing director of BT Radianz also stated that Gemini’s decision to join the Radianz cloud is a forward-thinking maneuver for the firm, as it would allow the exchange to achieve the reach and scale demanded by global institutional investors.
On September 10, 2018, BTCManager informed that Gemini had launched its stablecoin, the Gemini Dollar (GUSD), which stands at 1:1 with the U.S. dollar.
As reported by BTCManager in January 2019, Gemini became the first crypto exchange to complete a SOC 2 Type 1 examination.