Renowned custodian and cryptocurrency exchange Gemini has recently announced its interest in providing support to various kinds of DeFi tokens.
This will enable individual users’ as well as institutions’ to start trading Balancer (BAL), Curve (CRV), Ren Network (REN), Synthetix Network (SNX), Uma (UMA), Uniswap (UNI), and Yearn.finance (YFI), among other cryptocurrencies on the platform.
According to Gemini, other previous DeFi tokens such as Decentraland (MANA), Kyber Network (KNC), Maker (MKR), Storj (STORJ), and Ox (ZRX) that are initially available for custody only can now be traded as well.
Alongside this, newly-listed assets like Keep Network (KEEP), Wrapped Bitcoin (wBTC), and tBTC (tBTC) are provided with custody services as of the moment.
Gemini seeks to regulate trading and offer decentralized and privacy-oriented services later on. As it continues to build its image in the DeFi space, Gemini embraces DeFi’s promise of greater choice, independence, and opportunity for all crypto-related activities.
Gemini’s founders Cameron and Tyler Winklevoss said,
We believe in the potential of DeFi and are here to help usher in this next wave of growth and financial innovation for the world.
Right after Gemini’s showed an aggressive interest in adding DeFi tokens on its platform, other leading exchanges such as Binance, Huobi, and OKEx also listed several DeFi tokens as their demand skyrocketed since last month.
From September 15, DeFi trading for PAX Gold (PAXG), Amp (AMP), and Compound (COMP) were available on Gemini. Notably, Gemini’s COMP token listing marks DeFi’s official entry in the City of New York.
Focused on expanding its services, Gemini is also chosen as the asset custodian of Canada’s first-ever regulated crypto exchange Wealthsimple Crypto.