Gemini Clearing to provide off-exchange and over-the-counter settlement services

  • 06 September 2019, Friday, 03:00

In an industry where innovation is status quo, crypto exchanges have taken the lead in terms of delivering new tokens and creating newer gateways into the crypto ecosystem. One such leading establishment, Gemini announced the launch of Gemini Clearing™, which allows trades that are negotiated off-exchange or OTC to settle between Gemini accounts. Gemini co-founder Cameron Winklevoss made the news official through a tweet, which read,

“The future of money will be BOTH retail and institutional. @Gemini is proud to offer Gemini Clearing™, a fully-electronic clearing and settlement solution for off-exchange or over-the-counter (OTC) crypto trades. Anyone can use it.“

According to the company’s official post, Gemini Clearing is a fully-electronic clearing and settlement solution for off-exchange or over-the-counter (OTC) crypto trades. The solution is primarily aimed at arranging bilateral trades between two parties or enable brokering via third party involvement. The post also mentions,

“For customers looking for an additional layer of service and control, Gemini also offers a white glove solution for off-exchange clearing and settlement.”

While Gemini’s latest offering promises to achieve the next frontier towards financial freedom, the company is yet to announce any AML or KYC related requirements, in addition to establishing a global presence.

Source: ambcrypto.com