Gemini has now come to offer trading on 45 cryptocurrencies.
.@Gemini now supports trading and custody for 45 cryptos and custody for another 13 cryptos. Just getting started. 🚀
— Tyler Winklevoss (@tyler) June 17, 2021
This was announced by one of the Winklevoss twins, Tyler, adding that in addition to the 45 cryptocurrencies they offer trading for, there are another 13 for which they offer custody services.
However, it is clear from the words of one of the exchange’s co-founders that they want to expand their offerings further.
Gemini is a very special crypto exchange because it is one of the few crypto exchanges that is based in New York, and that operates in full compliance not only with US laws, but also with the very restrictive laws of New York State.
In fact, many international exchanges actually refuse to have US residents among their users, and even some US exchanges refuse to serve users who are residents of New York State.
Gemini, on the other hand, has the approval of the New York State Department of Financial Services (NYDFS), which is very rare among crypto exchanges, and this allows the company to provide its services to clients who have strict regulatory compliance needs.
Crypto trading on Gemini
Interestingly, among the 45 cryptocurrencies for which the exchange offers trading, there are also some that have been specifically designed to overcome, or circumvent, many regulatory limitations related to anti-terrorist financing laws, such as Zcash, which allows for truly anonymous and untraceable transactions.
The company also issues GUSD, Gemini’s collateralized US dollar stablecoin, which is also authorized by the NYDFS. It does not, however, support USDT.
To be honest, it does not have very high trading volumes, certainly lower than those of its main US competitor, Coinbase, but also lower than another US exchange that has historically often been in conflict with the US authorities, Kraken.
Nonetheless, Gemini is one of only eight exchanges in the world that have achieved the highest trust score on CoinGecko, along with its three US competitors Coinbase, Kraken and Binance US.