The company, founded by investors Tyler and Cameron Winklevoss, allows Canadian citizens to trade Bitcoin and ether on the exchange. Trading Bitcoin and ether against fiat currencies such as the dollar will take a few weeks, as no regulatory approval was needed to operate in Canada.
Gemini plans to open another international location by the end of June 2016. The company has decided to open first with the Bitcoin and ether order book as there are a lot of people who own Bitcoin, and “they dont have a safe place to store them”, said Winklevoss, according to reuters.com. He added that most Bitcoin and ether investors were trading on unregulated and unlicensed exchanges.
Bitcoin on June 6 traded at USD 582.79 on the Bitstamp platform, with a market capitalization of USD 9.1 billion, according to crypto-currency data website coinmarketcap.com.
Ether, the second-largest digital currency behind Bitcoin, last changed hands at USD 13.92 and had a market capitalization of about USD 1.1 billion, reuters.com continues.
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