Crypto Exchange Gemini Opens New Chicago Office Due To Increasing Institutional Demand

Gemini, one of the most popular digital currency exchanges in the United States has recently announced that it is opening a new office in Chicago. This comes after Bitcoin (BTC) surpassed $13,700 on June 26, the highest level in over a year. According to Tyler Winklevoss, the co-founder and CEO of the platform, the goal is to offer better services to institutional investors that want to have exposure to the cryptocurrency market.

Crypto Exchange Gemini Opens New Office in Chicago

As the cryptocurrency market continues to expand, companies, including exchanges, have to offer better services to their clients. The virtual currency market is a very competitive place for firms to operate and this pushes them to improve at all times.

Gemini, one of the most regulated exchanges around the world and in the United States, announced that it is going to be opening a new office in Chicago. The goal is to offer better services to institutions that want to have access to the crypto market.

On the matter, Tyler Winklevoss commented:

“From day one we have focused on building an institutional-grade platform and are continually investing in talent that will help us realize this. Chicago, one of the world’s major financial centers, is a natural place for us to be. We’re thrilled to formally expand our footprint there as interest in reliable, trustworthy, cryptocurrency trading platforms continues to grow among investors.”

The new office in Chicago will be an engineering hub that will be focusing on supporting the company’s core offerings, including those for professional trading and custody. They will also be focused on building new products for users that are currently enjoying Gemini’s services.

The Gemini exchange was founded by the Winklevoss brothers a few years ago. The exchange became one of the most popular around due to the fact that it complies with regulatory rules in the United States. It is very difficult for cryptocurrency firms to get regulatory approval in some countries, including the U.S., to operate and offer services to users.

The Winklevoss twins have also recovered their status as billionaire according to Bloomberg’s Billionaires Index. Both brothers have invested large sums of money in the cryptocurrency space, including Bitcoin and Gemini. The digital asset was in a bear trend in 2018 and it started to grow once again during 2019. This is why they were able to recover their status as billionaires in this ranking.

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