Winklevoss Brothers Gemini Exchange Announces Support For Seven DeFi Tokens

Gemini, a regulated cryptocurrency exchange and custodian that was founded by Cameron and Tyler Winklevoss, has announced in a blog post on Friday, September 25, 2020, that it has added trading and custodial support for seven more tokens from the decentralized finance (DeFi) space. The company says that these tokens are completely new on its trading platform.

The governance token of YFI, Uniswap’s governance token UNI, Balancer (BAL), Ren Network (REN), Curve (CRV), Synthetix Network (SNX), and Uma (UMA) are the seven new tokens from the DeFi market that have been added by the Gemini exchange on its platform. Along with announcing support for these seven DeFi tokens, the cryptocurrency exchange has listed three more tokens for custodial support. These are Wrapped Bitcoin (wBTC), tBTC (tBTC), and Keep Network (KEEP).

The company already opened deposits for these tokens at 8 am ET. While on the other hand, their trading will start on ActiveTrader™ through limit orders at 11 am ET.

Moreover, Gemini has announced to add trading support for five more tokens including Maker (MKR), Decentraland (MANA), Kyber Network (KNC), 0x (ZRX), and Storj (STORJ). According to the announcement, these five coins are already present on the Gemini’s platform and the crypto exchange is providing custodial support to them.

In the announcement post, the company says that the revolution of the decentralized finance industry is going to come into bloom in the near future as the official post reads:

“The Decentralized Finance (DeFi) revolution is coming into bloom and it presents the possibility of permissionless, bankless, alternatives to the legacy financial system. Its promise is aligned with our ethos of giving you greater choice, independence, and opportunity. And these new tokens make up some of the major building blocks of DeFi.”

With the addition of these new coins, the total number of tokens available for trading on the platform of Gemini has increased to 24 and the coins supported for custody are now 34 in total. The company also reveals its plans to add more coins in the future as well.