Gemini Continues to Build DeFi Infrastructure in US Markets, Adding 6 Promising Tokens to the Protocol

As the protocol continues expanding, Gemini onboards six new tokens, including ALCX, ANKER, FTM, MIR, API3, and DDX.

By
John Tunney
on
June 18, 2021
Category:
Blockchain News

First and Safest Crypto Exchange

On June 16th, Gemini told their community and the crypto world that they have now onboarded six new DeFi infrastructure and data management tokens. The team hopes the news will empower more users to adopt crypto. As the first regulated platform in the United Kingdom and the United States, their Transatlantic recognition plus the new tokens can play a crucial role in growing their platform. Since its inception, the token has maintained a strict respect to security and protection of assets.


Gemini Lists Six More Tokens 

The six new tokens supported on Gemini for trading and custody are Alchemix (ALCX), Ankr Network (ANKR), Fantom (FTM), and Mirror Protocol (MIR). The platform attracts international users with the ability to swap in USD, GBP, EUR, CAD, AUD, HKD, and SGD on its mobile application and website. However, At this time, Gemini’s API/FIX and ActiveTrader™ applications can only exchange in USD.

Gemini confirmed that it does not support the other two tokens for trading yet. Instead, API3 (API3) and DerivaDAO (DDX) are only offered to hold on the Gemini platform safely. 

Source

Alchemix is currently the largest of the six new tokens, with a total volume locked over $1.4 Billion. Ankr and Fantom each trade under $1, and Mirror exchanges for around $5, according to CoinMarketCap. With the new tokens on Gemini, they now offer trading and custody for a total of 45 cryptos, with 13 cryptos available for purchase. 

Gemini currently charges a convenience fee of 0.50% above the market rate and a transaction fee between 0.99 to 1.49%. The application has a withdrawal limit of $10,000 per day.

What is Gemini

Gemini is a digital currency exchange and custodian ]founded in 2014 by Cameron and Tyler Winklevoss, known for helping create ConnectU, the predecessor of Facebook. The application allows users to buy, sell, and store digital assets. The company provides FDIC protection for USD investment. The company is regulated by the New York State Department of Financial Services and is a part of the New York Trust.  

Gemini continues to expand the diverse range of tokens offered on its platform. It’s exciting to see that they have added more finance, infrastructure, and data management tokens while prioritizing security. These types of tokens help drive the crypto industry forward, as they help support the scalability and value of blockchain networks.  

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John Tunney

John Tunney is an accomplished analyst and crypto enthusiast. The UCLA alum has been actively reporting and blogging for 3 years, and has a passion for all things finance.

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