Gemini Cryptocurrency Exchange, founded by the popular Winklevoss twins, has released a mobile application version of its crypto trading platform. The app was announced via a blog post authored by Tyler Winklevoss on Tuesday, December 11.
According to the post, the mobile is a second leg of the exchange’s mission to “build the future of money.” The first being its web-based trading platform.
The post explains:
“A trusted and regulated platform, however, is just the beginning. The future of money is both digital and mobile, and now Gemini is too with the launch of the Gemini Mobile App!”
The app will be available for the iOS as well as Android-enabled devices
Features of the Gemini Mobile App
According to Winklevoss, the mobile app from Gemini crypto exchange will allow users to easily buy and sell cryptocurrencies supported by the exchange including Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Bitcoin Cash (BCH), and ZCash (ZEC). It also provides users with the historic prices of cryptocurrencies and how the changes affect a customer’s crypto portfolio. Users also get to set price alerts and recurring buy orders which greatly eases the crypto trading experience.
Gemini exchange also announced the launch of a new investment vehicle named “The Cryptoverse”. The Cryptoverse, which was described as a basket of the cryptocurrencies that can be purchased in one single order. The cryptos must be available on Gemini and are weighted by market capitalization.
Gemini’s mobile app comes at a time of great uncertainty in crypto markets caused by huge slumps in crypto prices towards the end of the year—this, contrary to expectations of most crypto analysts. Tyler and his twin Cameron maintains they are strong and confident of the crypto market.
Gemini Positions for Diverse Clients
In a recent interview with Bloomberg, the brothers struck a defiant tone saying that they were “totally at home in winter” referring to the crypto bear market. We’re in this for the long haul,” Tyler said rehearsing his belief that the crypto space is here to stay. Cameron added that the downturn in crypto market gives the team time to build internally, and refine. “To kind of catch our breath,” he says.
Crypto followers look to the institutionalization of crypto markets—the era of institutional investors—as the catalyst for the next crypto bull ride. This has seen several operators including Gemini launch products and services hoped to attract these investor class. As Smartereum reported, the exchange launched dollar-pegged stablecoin known as the Gemini USD [GUSD] in earlier this year. The exchange has also pursued licenses to bring a sort of legitimacy in the crypto operations and partnerships with mainstream organizations like AON, Federal Deposit Insurance Corporation (FDIC) and New York Department of Financial Services (NYDF).
Cameron clarified that the focus is not only on institutional clients but retail traders as well. He said:
“A lot of our decisions have perhaps given off a perception that we’re more institutional-based. The reality of the situation is that we have a diverse customer base. And the retail story is just beginning.”
Gemini’s Plan for the Future
The U.S.-based exchange plans to expand operations globally next with a focus on Asia and the United Kingdom by 2019. This is audacious considering that crypto-based companies are reportedly shrinking activities due to the prolonged market crash. Ethereum development studio ConsenSys recently laid off 13 percent of its staff as part of a restricting that will see it cut down several of its projects.
Solomon Sunny is the market reporter for Smartereum, one of the global leaders in Ethereum, blockchain and currency news. He produces technical price updates on digital currencies and writes recent developments about blockchain.