Gemini Trust Company, LLC, under which is the namesake stock exchange, has secured insurance coverage for the digital assets of the company Aon. Obtained insurance of digital assets to complement the existing insurance funds Gemini in us dollars from the Federal Corporation for Deposit insurance.
“Customers want the same level of insurance protection which have their assets in the traditional financial system. Attracting new insurers not only provides our customers with this protection, but also sets standards for the protection of clients throughout the industry,” said Yusuf Hussein (Yusuf Hussain), head of risk management in Gemini.
The exchange has decided to take this step and chose an insurer Aon is not just. In July, the insurance company said that it takes 50% of the insurance market of cryptocurrencies, and plans to develop more specialized programs for service industry.
Recall that the Gemini exchange was created in 2014 by brothers Tyler and Cameron Winklevoss (Tyler & Cameron Winklevoss), and now ranks in the top 50 largest cryptocurrency exchanges by daily trading volumes. In recent months, the company has shown good growth. In the past month, Gemini has hired former top-Manager of the new York stock exchange Robert Cornish (Robert Cornish). Cornish is responsible for all technology initiatives of the company and monitors the implementation of the SMARTS Market Surveillance system from Nasdaq, which will allow Gemini to control all the tables in limit orders and auctions.
In early September the company announced the release of its own stablein, that is stable cryptocurrencies, provided the us dollar. The stock of Fiat for this purpose are stored in the accounts of the Gemini Trust Company. Later exchange the Winklevoss brothers announced plans to enter the British market. Gemini believes that occupy a niche that’s not oversaturated the market: at the moment only supports Coinbase cryptocurrency trading pairs with the British pound.