Gemini Expands International Presence, Taps into Australian Market
- The exchange is now offering its services in seven countries including the US.
Winklevoss-twins backed Gemini on Wednesday announced that it is expanding its crypto trading services to Australia-based customers.
With this development, Australian traders can access the crypto exchange’s mobile application on both Android and iOS to buy, sell, and store digital currencies. In the initial phase, it has added support for five digital assets - Bitcoin, Bitcoin Cash, Ether, Zcash, and Litecoin.
Beyond the United States, this is the sixth foreign country to which Gemini has extended its services as the exchange already offers crypto trading services in Canada, South Korea, Hong Kong, Singapore, and the United Kingdom.
Commenting on the expansion to the southern hemisphere, Tyler Winklevoss, co-founder and chief executive of the exchange, said: “Cryptocurrency is the future of money, and we're committed to building a Bridge Bridge The bridge or liquidity bridge is an essential component for brokers that are enabling their clients to trade at interbank rates directly via a Prime Broker or a Prime-of-Prime (PoP). While market makers do not require a bridge in order to service its clients, brokers which are sending through orders to a liquidity provider or an electronic execution venue need a bridge to connect their trading platform to the interbank market.Bridges are used extensively in forex trading, specifically for Metatrader, the world’s most popular trading platform. Bridges can be connecting a broker to a prime of prime or to a prime broker. Connectivity providers are delivering solutions mostly oriented towards the most popular platforms in the market – MetaTrader 4 (MT4) and MT5. The component is another crucial part of proper risk mitigation for the brokerage. The Need for Bridges in Retail TradingGiven the rise of the MT4 and MT5 platforms, there has since arose a need for bridge technology. This is due to the fact that Metaquotes, the company behind MT4, only envisaged their platform being used as a purely an interface client broker trading.This means the broker set the quotes, set the spread, and traded against the client. However, the trader actually had no direct access to the wholesale forex market, yet many brokers were unwilling to let go of MT4 in favor of other platforms which already inherently supported access to the market via Electronic Communications Networks (ECN) due to MT4’s huge popularity and thus potential loss of clients. MetaTrader was not designed to communicate with banks or liquidity providers because Metaquotes didn’t implement the FIX protocol (Financial Information Exchange). The FIX protocol is an electronic communications protocol setup in the early 1990’s to provide worldwide exchange of information in real time with respect to the transactions of financial markets and instruments. As a result, software was developed by third parties to enable MetaTrader to connect traders to the interbank. The bridge or liquidity bridge is an essential component for brokers that are enabling their clients to trade at interbank rates directly via a Prime Broker or a Prime-of-Prime (PoP). While market makers do not require a bridge in order to service its clients, brokers which are sending through orders to a liquidity provider or an electronic execution venue need a bridge to connect their trading platform to the interbank market.Bridges are used extensively in forex trading, specifically for Metatrader, the world’s most popular trading platform. Bridges can be connecting a broker to a prime of prime or to a prime broker. Connectivity providers are delivering solutions mostly oriented towards the most popular platforms in the market – MetaTrader 4 (MT4) and MT5. The component is another crucial part of proper risk mitigation for the brokerage. The Need for Bridges in Retail TradingGiven the rise of the MT4 and MT5 platforms, there has since arose a need for bridge technology. This is due to the fact that Metaquotes, the company behind MT4, only envisaged their platform being used as a purely an interface client broker trading.This means the broker set the quotes, set the spread, and traded against the client. However, the trader actually had no direct access to the wholesale forex market, yet many brokers were unwilling to let go of MT4 in favor of other platforms which already inherently supported access to the market via Electronic Communications Networks (ECN) due to MT4’s huge popularity and thus potential loss of clients. MetaTrader was not designed to communicate with banks or liquidity providers because Metaquotes didn’t implement the FIX protocol (Financial Information Exchange). The FIX protocol is an electronic communications protocol setup in the early 1990’s to provide worldwide exchange of information in real time with respect to the transactions of financial markets and instruments. As a result, software was developed by third parties to enable MetaTrader to connect traders to the interbank. Read this Term to that future in Australia. We are thrilled to continue expanding our global footprint and give Aussies a safe and trustworthy cryptocurrency experience. We founded Gemini to build trust in this nascent technology and we look forward to building that trust in Australia.”
On the way to becoming a top exchange
Founded in 2014 by the Winklevoss-brothers, Gemini first targeted institutions with its crypto trading services. The New York-headquartered exchange is one of the early receivers of the coveted BitLicense and recently applied for a broker-dealer license from the Financial Industry Regulatory Authority (FINRA).
Meanwhile, despite multiple rejections, the exchange is still pushing for approval from the Securities and Exchange Commission (SEC) to introduce Bitcoin-backed exchange-traded fund (ETF) in the US.
The exchange is also working to become a major player in the United States and opened a new office in Chicago in June.
It is also focusing on the up-gradation of its security features to keep the treats away from its Trading Platform Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real-time updates on quotes, charts and is the main frontend which customers are facing.Brokers either use existing trading platforms and sometimes customize them, or develop their own platform from scratch. Since the beginning of the retail FX trading business MetaQuotes and its platforms MetaTrader 4 (MT4) and MetaTrader 5 (MT5) have been the industry standard, especially when it comes to automated trading.MT4 Shows Resiliency While MT4 has long been seen as ubiquitous amongst brokers’ offerings, a targeted push by MetaQuotes themselves has led to broader adoption of MT5 in recent years. Advanced trading platforms such as MT4 or MT5 also allow access to a wide range of asset classes available for trading.The development of trading platforms over the past decade has failed to successfully dethrone MT4 or MT5, notably in the retail market. However, in institutional markets, brokerage companies and banking entities also construct and utilize proprietary currency trading platforms to help satisfy internal needs with trades executed through institutional trading channels.By far the most important parameter for many retail clients is the optionality and pairs available on trading platforms. Additionally, demand by traders has led to a greater emphasis on newer features such as advanced charting and other tools. In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real-time updates on quotes, charts and is the main frontend which customers are facing.Brokers either use existing trading platforms and sometimes customize them, or develop their own platform from scratch. Since the beginning of the retail FX trading business MetaQuotes and its platforms MetaTrader 4 (MT4) and MetaTrader 5 (MT5) have been the industry standard, especially when it comes to automated trading.MT4 Shows Resiliency While MT4 has long been seen as ubiquitous amongst brokers’ offerings, a targeted push by MetaQuotes themselves has led to broader adoption of MT5 in recent years. Advanced trading platforms such as MT4 or MT5 also allow access to a wide range of asset classes available for trading.The development of trading platforms over the past decade has failed to successfully dethrone MT4 or MT5, notably in the retail market. However, in institutional markets, brokerage companies and banking entities also construct and utilize proprietary currency trading platforms to help satisfy internal needs with trades executed through institutional trading channels.By far the most important parameter for many retail clients is the optionality and pairs available on trading platforms. Additionally, demand by traders has led to a greater emphasis on newer features such as advanced charting and other tools. Read this Term. Recently, Finance Magnates reported that the New York-headquartered exchange hired David Damato as its chief security officer (CSO).
Winklevoss-twins backed Gemini on Wednesday announced that it is expanding its crypto trading services to Australia-based customers.
With this development, Australian traders can access the crypto exchange’s mobile application on both Android and iOS to buy, sell, and store digital currencies. In the initial phase, it has added support for five digital assets - Bitcoin, Bitcoin Cash, Ether, Zcash, and Litecoin.
Beyond the United States, this is the sixth foreign country to which Gemini has extended its services as the exchange already offers crypto trading services in Canada, South Korea, Hong Kong, Singapore, and the United Kingdom.
Commenting on the expansion to the southern hemisphere, Tyler Winklevoss, co-founder and chief executive of the exchange, said: “Cryptocurrency is the future of money, and we're committed to building a Bridge Bridge The bridge or liquidity bridge is an essential component for brokers that are enabling their clients to trade at interbank rates directly via a Prime Broker or a Prime-of-Prime (PoP). While market makers do not require a bridge in order to service its clients, brokers which are sending through orders to a liquidity provider or an electronic execution venue need a bridge to connect their trading platform to the interbank market.Bridges are used extensively in forex trading, specifically for Metatrader, the world’s most popular trading platform. Bridges can be connecting a broker to a prime of prime or to a prime broker. Connectivity providers are delivering solutions mostly oriented towards the most popular platforms in the market – MetaTrader 4 (MT4) and MT5. The component is another crucial part of proper risk mitigation for the brokerage. The Need for Bridges in Retail TradingGiven the rise of the MT4 and MT5 platforms, there has since arose a need for bridge technology. This is due to the fact that Metaquotes, the company behind MT4, only envisaged their platform being used as a purely an interface client broker trading.This means the broker set the quotes, set the spread, and traded against the client. However, the trader actually had no direct access to the wholesale forex market, yet many brokers were unwilling to let go of MT4 in favor of other platforms which already inherently supported access to the market via Electronic Communications Networks (ECN) due to MT4’s huge popularity and thus potential loss of clients. MetaTrader was not designed to communicate with banks or liquidity providers because Metaquotes didn’t implement the FIX protocol (Financial Information Exchange). The FIX protocol is an electronic communications protocol setup in the early 1990’s to provide worldwide exchange of information in real time with respect to the transactions of financial markets and instruments. As a result, software was developed by third parties to enable MetaTrader to connect traders to the interbank. The bridge or liquidity bridge is an essential component for brokers that are enabling their clients to trade at interbank rates directly via a Prime Broker or a Prime-of-Prime (PoP). While market makers do not require a bridge in order to service its clients, brokers which are sending through orders to a liquidity provider or an electronic execution venue need a bridge to connect their trading platform to the interbank market.Bridges are used extensively in forex trading, specifically for Metatrader, the world’s most popular trading platform. Bridges can be connecting a broker to a prime of prime or to a prime broker. Connectivity providers are delivering solutions mostly oriented towards the most popular platforms in the market – MetaTrader 4 (MT4) and MT5. The component is another crucial part of proper risk mitigation for the brokerage. The Need for Bridges in Retail TradingGiven the rise of the MT4 and MT5 platforms, there has since arose a need for bridge technology. This is due to the fact that Metaquotes, the company behind MT4, only envisaged their platform being used as a purely an interface client broker trading.This means the broker set the quotes, set the spread, and traded against the client. However, the trader actually had no direct access to the wholesale forex market, yet many brokers were unwilling to let go of MT4 in favor of other platforms which already inherently supported access to the market via Electronic Communications Networks (ECN) due to MT4’s huge popularity and thus potential loss of clients. MetaTrader was not designed to communicate with banks or liquidity providers because Metaquotes didn’t implement the FIX protocol (Financial Information Exchange). The FIX protocol is an electronic communications protocol setup in the early 1990’s to provide worldwide exchange of information in real time with respect to the transactions of financial markets and instruments. As a result, software was developed by third parties to enable MetaTrader to connect traders to the interbank. Read this Term to that future in Australia. We are thrilled to continue expanding our global footprint and give Aussies a safe and trustworthy cryptocurrency experience. We founded Gemini to build trust in this nascent technology and we look forward to building that trust in Australia.”
On the way to becoming a top exchange
Founded in 2014 by the Winklevoss-brothers, Gemini first targeted institutions with its crypto trading services. The New York-headquartered exchange is one of the early receivers of the coveted BitLicense and recently applied for a broker-dealer license from the Financial Industry Regulatory Authority (FINRA).
Meanwhile, despite multiple rejections, the exchange is still pushing for approval from the Securities and Exchange Commission (SEC) to introduce Bitcoin-backed exchange-traded fund (ETF) in the US.
The exchange is also working to become a major player in the United States and opened a new office in Chicago in June.
It is also focusing on the up-gradation of its security features to keep the treats away from its Trading Platform Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real-time updates on quotes, charts and is the main frontend which customers are facing.Brokers either use existing trading platforms and sometimes customize them, or develop their own platform from scratch. Since the beginning of the retail FX trading business MetaQuotes and its platforms MetaTrader 4 (MT4) and MetaTrader 5 (MT5) have been the industry standard, especially when it comes to automated trading.MT4 Shows Resiliency While MT4 has long been seen as ubiquitous amongst brokers’ offerings, a targeted push by MetaQuotes themselves has led to broader adoption of MT5 in recent years. Advanced trading platforms such as MT4 or MT5 also allow access to a wide range of asset classes available for trading.The development of trading platforms over the past decade has failed to successfully dethrone MT4 or MT5, notably in the retail market. However, in institutional markets, brokerage companies and banking entities also construct and utilize proprietary currency trading platforms to help satisfy internal needs with trades executed through institutional trading channels.By far the most important parameter for many retail clients is the optionality and pairs available on trading platforms. Additionally, demand by traders has led to a greater emphasis on newer features such as advanced charting and other tools. In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real-time updates on quotes, charts and is the main frontend which customers are facing.Brokers either use existing trading platforms and sometimes customize them, or develop their own platform from scratch. Since the beginning of the retail FX trading business MetaQuotes and its platforms MetaTrader 4 (MT4) and MetaTrader 5 (MT5) have been the industry standard, especially when it comes to automated trading.MT4 Shows Resiliency While MT4 has long been seen as ubiquitous amongst brokers’ offerings, a targeted push by MetaQuotes themselves has led to broader adoption of MT5 in recent years. Advanced trading platforms such as MT4 or MT5 also allow access to a wide range of asset classes available for trading.The development of trading platforms over the past decade has failed to successfully dethrone MT4 or MT5, notably in the retail market. However, in institutional markets, brokerage companies and banking entities also construct and utilize proprietary currency trading platforms to help satisfy internal needs with trades executed through institutional trading channels.By far the most important parameter for many retail clients is the optionality and pairs available on trading platforms. Additionally, demand by traders has led to a greater emphasis on newer features such as advanced charting and other tools. Read this Term. Recently, Finance Magnates reported that the New York-headquartered exchange hired David Damato as its chief security officer (CSO).