Gemini Enters DeFi Frenzy with 7 Tokens Listing
Winklevoss twins’ crypto exchange, Gemini announced on Friday the listing of 7 new decentralized finance (DeFi) tokens, as well as support for their custody.
The named tokens are Balancer (BAL), Curve (CRV), Ren Network (REN), Synthetix Network (SNX), Uma (UMA), Uniswap (UNI), and Yearn.finance (YFI).
This came with the boom in the DeFi ecosystem, especially with the rise in yield farming. Indeed, multiple tokens on Gemini’s list fall under this trending category. Thus, the exchange wants to benefit from the market craze.
Similar to Gemini, major crypto exchanges, including Binance, also listed many DeFi tokens as demand for them skyrocketed lately.
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Bringing DeFi Trading to New Yorkers
Popularized as a crypto exchange and custodian for institutions, Gemini holds approvals from many regulators in the United States, including the so-called BitLicense from the New York State Department of Financial Services (NYDFS), which is said to be one of the toughest approvals a crypto exchange can gain.
Gemini highlighted that it is the first and only crypto exchange facilitating trading and custody services for these DeFi tokens in the state of New York.
Additionally, the New York-headquartered exchange listed Decentraland (MANA), Kyber Network (KNC), Maker (MKR), Storj (STORJ), and 0x (ZRX) for trading. These tokens were only supported for custody before. Moreover, it added Keep Network (KEEP), Wrapped Bitcoin (wBTC), and tBTC for custody as well.
With all these additions and listings, Gemini now offers trading and custody for 24 cryptocurrencies and only custody services for another 10 digital currencies.
Meanwhile, the crypto platform is aggressively expanding its global presence. Finance Magnates yesterday reported on Gemini launching its services for individuals and institutions in the United Kingdom.