Cryptocurrency exchange Gemini has received USD 50 million from Nasdaq as it prepares for its upcoming listing in New York.
Securing Nasdaq as a strategic investor comes just before the launch of Gemini’s IPO in the US. Nasdaq committed USD 50 million, underscoring significant trust in the cryptocurrency exchange during a time when digital assets are gaining more acceptance in traditional finance. In addition to funding, the collaboration creates a long-term partnership between the two companies.
As detailed by Reuters, the agreement goes beyond the investment, with Nasdaq’s clients being set to gain access to Gemini’s custody and staking services. On the other hand, Gemini’s institutional clients will be able to leverage Nasdaq’s Calypso platform to handle and track collateral. In the crypto industry, which faces complexities regarding security and trust, this connection marks a substantial milestone.
Gemini’s going public in the US
Gemini’s decision to go public comes during a time when the US stock market is seeing a significant revival. Investors are currently showcasing renewed interest in new listings, while companies such as Circle and Bullish are registering substantial performance. Choosing this specific moment positions Gemini as the benefit of a positive attitude in the market while also underlining that crypto companies are no longer standing on the sidelines.
For the overall crypto market, if Gemini moves forward with its listing under the ticker GEMI, the company will join Coinbase and Bullish as one of the publicly traded crypto exchanges. This initiative emphasises how digital assets are becoming more integrated into mainstream finance.
Latest news from Gemini
A few days before this announcement, Gemini made another move, launching a suite of new products for EU and EEA investors, including Gemini Staking for Ethereum (ETH) and Solana (SOL), as well as Gemini Perpetuals. The rollout sought to support Gemini in continuing its European expansion and solidifying its position as a trading provider for European investors after receiving its MiCA approval from the Malta Financial Services Authority (MFSA).
