Gemini Enters DeFi Rush, Announces Listing Of 15 DeFi Tokens

Decentralized Finance (DeFi) is the latest buzz in the crypto market with the massive bull run in DeFi over the last few months. Looking at the market craze and demand, crypto exchange Gemini has announced a massive listing of 15 new DeFi tokens. Gemini co-founder Cameron Winklevoss made the official announcement today.

And because of this, @Gemini is adding 15 new tokens to kick off #DeFipalooza! Come join us!https://t.co/RnHfRBhwsQ

— Cameron Winklevoss (@cameron) September 25, 2020

DeFi makes a strong promise as an alternative to the traditional financial system. Besides, its inherent concept of a permissionless and bankless system gives users better control over their finances. This opportunity has wooed investors on a large scale to the DeFi platforms. With its latest entry into DeFi, the Gemini founders ‘Winklevoss twins’ wrote:

“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. We are excited by the number of worthy DeFi projects being built by impressive, dedicated teams that are already helping individuals around the world become their own bank and achieve financial freedom”.

Note that the Gemini Exchange has always stayed conservative on the listing of crypto tokens. The addition of 15 DeFi tokens is a big milestone considering Gemini governed by regulators from the State of New York, one of the toughest in the U.S. Seven of the fifteen DeFi tokens are completely new to the platform and will receive support for both – trading and custody. This includes Uniswap (UNI), Yearn.Finance (YFI), Balancer (BAL), Ren Network (REN), Uma (UMA), Curve (CRV) and Synthetix Network (SNX).

There are five such DeFi tokens that hold only ‘custody’ support but now upgraded for trading on Gemini. This includes Maker (MKR), Decentraland (Mana), Storj (STORJ), Kyber Network (KNC), and 0x (ZRX). The remaining three tokens added to Gemini’s basket of custodial services include Wrapped Bitcoin (wBTC), Keep Network (KEEP), and tBTC (tBTC).

“With these new token additions, we now offer trading and custody support for a total of 24 cryptos and custody support for another 10 cryptos,” wrote the exchange.

Gemini Expands Its Operation to the UK

On Thursday, September 24, Gemini also announced expanding its operations to the United Kingdom. Gemini received the regulatory license from Britain’s top regulator – Financial Conduct Authority (FCA). Thus, it will offer crypto exchange and custodial services to all the British locals in pounds sterling (GBP).

All the Gemini users from the UK will get access to access to all of the platform features. Gemini provides a secure platform for all institutional investors in the UK to trade cryptocurrencies. It also offers them access to market data and custodial services through their clients. We hope that the newly listed DeFi tokens will also be available on Gemini UK.