In what could be a significant boost to the cryptocurrency industry’s institutional hopes, Gemini Exchange, the cryptocurrency exchange founded by Cameron and Tyler Winklevoss has partnered with British Telecommunications (BT) Radianz Cloud broker community, as announced by the BT Group on February 27.
BT Radinaz Cloud is networking, security and cloud services company which is described in the press release:
“One of the world’s largest, secure networked financial cloud communities — which consists of thousands of brokers, institutions, exchanges and clearing and settlement houses — while providing community members access to the growing cryptocurrency market.”
Through this partnership, the cryptocurrency exchange will gain access to over 50 countries’ finance-centric cloud communities and their plethora of institutions, which is what the cryptocurrency community will be abuzz about. As per the company’s website, it registered a whopping $4 billion in free cash flow in 2018 alone.
Several top technology companies have also partnered with BT Radianz, including the likes of Microsoft, Cisco, Dell, Oracle, Symantec and Amazon Web Services, giving Gemini further impetus to grow in the FinTech world.
Nick Vigier, the chief information officer at Gemini said:
“No other cryptocurrency exchange in the world offers our calibre of top performance and breadth of connectivity options. Adding Radianz Cloud connectivity to our current low latency offerings in the NY5 data centre allows our existing institutional customer base to access our FIX interface whether they are directly connected or in AWS.”
British Telecommunications has been involved in the blockchain sphere since 2018, with the company securing a patent for its cybersecurity system specifically for the protection of the blockchain.
Michael Woodman, the managing director at BT Radianz said:
“By joining the Radianz Cloud, Gemini achieves the reach and scale demanded by global institutions and benefits from an established framework for doing business with them.”
Additionally, the Winklevoss twins are interested in the institutional crowd that is likely to arrive in this calendar year, having dwelled on the Bitcoin ETF topic earlier this year. The twins have stated that they have a plan to win over regulatory approval for the ETF, which they added could be through increasing the surveillance on the crypto-market, pacifying the SEC claim that the decentralized currency market is a haven for market manipulation.
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Graduate of Finance and Economics, interested in the intersection of the world of decentralized currency and global governance.