Established in the year 2015 by the Winklevoss Brothers, Gemini is the leading exchange in the crypto Industry. The founders of Gemini have been in news for a tiff with the CEO of Facebook, Mark Zuckerberg accusing him of stealing their ideas. Now, Gemini is all decided and ready to make an application for an application for a Broker-dealer license. The exchange has gone through the same procedure with the FINRA. The intention behind this platform is to let users use the platform legally for the exchange of digital assets and also, to work as a trade service. With the spike in digital assets as a tool for investment nowadays, most of the exchanges have started offering wallets and other custodial services.
But such offers have surely emphasized questions like who takes the responsibility or who gives the assurance that these platforms will not be misusing customers’ funds. For more information related to Gemini, you can always call on Gemini customer helpline number which is functional all the time for help and support. You can always contact the team for best results.
In response to all these questions, the broker-dealer will act as a template that will be regulating the digital currency platform. The issues which are faced by the exchanges presently have the same issues as which were face by broker-dealer in the 1960s. It is the first platform where you will get the legalized substitute trading platform to trade the digital assets lawfully. Many of the Cryptocurrency companies’ have already approached FINRA for the broker-dealer license, though there is no clearance about the approval. Till so far, around 40 applications have reached FINRA, and the companies have been waiting for the last fourteen months for the acceptance, but none of the companies have received any reply.
Gemini is also in partnership with the tokenized security platform harbor. With this partnership, institutional customers use GUSD to buy securities for the stable coin of Gemini and able to receive USD denominated payment through GUSD. The exchange would like to smooth the progress of trading of these securities. Gemini is also planning to permit external securities to trade on the platform but the process of regulating approval may consume your time. In the past years, the digital currency has been the talk of the town and also, a source for investment. The moment number of investors begins to finance in digital currencies, regulations will also be regulated on the broker-dealer of these currencies. If regulation approvals are left untouched, it would create problems around its surroundings. It would be exciting to see whether Gemini would be able to get the green signal from FINRA to be an exchange for tokenized assets. In the past, Gemini got the approval from NYDFS in 2015 to fundamental custody assets at the state level. If you want to know more, contact the team of Gemini helpdesk number which is available around the clock and you can contact them anytime.