Gemini Trust Company Secured Insurance Coverage from AON Custodied Crypto-AssetsOctober 4, 2018
Gemini Trust Company, a renowned digital currency exchange, and custodian firm have secured insurance coverage for custodial cryptocurrency assets from AON, a lending services company, in the news posted yesterday.
Gemini Trust Company is located in New York City and established by Cameron and Tyler Winklevoss in the year 2014. At this point, this digital currency exchange if the fiftieth biggest cryptocurrency custodian and exchange by twenty-four hour adjusted trade amount, according to the information from CoinMarketCap, world’s renowned and trustworthy source of information concerning digital currency.
In the press release, Gemini Trust Company insurance coverage will go together with the already existing FDIC or Federal Deposit Insurance Corporate-insured U.S dollars deposits.
Yusuf Hussain, Head of Risk at Gemini Trust Company commented in an interview that people are searching for similar amount or levels of insured security they are used to being given by traditional financial organizations. He also added that keeping the insurers updated not just allows the company to provide such securities to their clients, but this also sets the anticipation for the protection of the users in the field of digital currency.
A few weeks ago, lending services company AON, declared to take up half of the digital currency insurance industry, looking forward to seeing digital currency specific securities catering to the market. Marsh & McLennan, another insurance service provider, allegedly stated that at the present time is brisk for digital currency insurers, showing that it had made its team committed to broker guidelines for blockchain startups.
A few weeks ago, Gemini Trust Company announce that Robert Cornish, ex-Chief Information Officer of the NYSE (New York Stock Exchange) had joined the crypto exchange. His job is to lead technology initiatives as well as tracking the use of SmartsMartket Surveillance system of Nasdaq Company that will allow the exchange to regulate its order books as well as Gemini Auctions.
A few months ago, this digital currency exchange and custodian company revealed that they would be starting to offer block trading of digital currency outside of their usual order books. Speculators that wish to trade on the marketplace of Gemini Block Trading can buy and sell a huge amount of digital currencies.
In December 2017, this exchange firm collaborated with the CBOE or Chicago Board Options Exchange to launch BTC futures. This allows Gemini Trust Company to bring the typical market tools in the world of digital currency asset.