New York-based digital currency exchange Gemini - founded and currently operated by the Winklevoss twins - will now be offering residents of Hong Kong and Singapore the ability to trade two of the most popular crypto-currencies in the world:
“As of today, registered customers in both the Lion City and the Pearl of the Orient can trade bitcoin and ether using the Gemini exchange.”Traders and investors in both locales will be able execute buy and sell orders on three pairs: BTC/USD, BTC/ETH and ETH/USD.
Gemini also stated that the addition of HKD-based and SGD-based pairs is forthcoming. Per the announcement made by Cameron Winklevoss, President and Co-Founder of Gemini, US dollar wire transfers originating from banks in Hong Kong and Singapore can be used to fund trading accounts on Gemini.
Gemini’s expansion in the region comes at an opportune time as one of their largest competitors, Hong Kong-based Bitfinex, has seen its daily turnover cut by more than 50 percent in the aftermath of tectonic hack in August of this year, where close to 1 percent of all bitcoin in existence was stolen from Bitfinex.
The Winklevoss-owned exchange became one of the first regulated crypto-currency trading venue in New York in October of last year, when the NYDFS granted Gemini a license, along with Circle and itBit.
And in May, 2016, the NYDFS granted Gemini approval to add the digital token of the Ethereum blockchain network (ether), making Gemini the first regulated exchange in the United States to offer ether-based instruments.