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Gemini Custody expands its list of custody offerings; BAT, DAI among crypto-assets now supported

Arijit Sarkar

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Source: Pixabay

Just as the buzz created by Gemini Custody’s 10 September launch had settled down, the company is in the news again after it announced the expansion of its list of digital tokens for its custodial offering. The development was made official through @Gemini’s tweet, which read,

“#GeminiCustody is proud to expand its list of digital assets. Our custody solution now supports 18 #crypto assets and counting!

You can learn about #GeminiCustody and our unparalleled offering on our website.”

The exchange also shared on its website that “in addition to BTC, ETH, BCH, LTC, and ZEC, Gemini currently custodies over a dozen ERC-20 tokens—including BAT, DAI, MKR, REP, BRD, MANA, and ENJ—with many more to come.” Further, since Gemini is a fiduciary and qualified custodian of digital assets, the move has put the exchange in direct competition to Binance.US.

On a side note, the exchange has also cleared out some of the confusion related to users’ identity. Drawing a clear comparison from its competition, Gemini’s website stated,

“While companies have Manage multi-user accounts using sub-accounting tools, or give auditors view-only access into balances, transactions, and activity. All customer assets are segregated using unique digital addresses that are independently verifiable on their respective blockchains.”

Arijit is a full-time journalist at AMBCrypto, who focuses on the XRP and Ethereum ecosystem. Leveraging over three years of experience in media and Majoring in Computer Science, he covers the technical developments in the crypto ecosystem