Digital Currency Revolution Series: Gemini Introduces New Product With Off-Exchange and OTC Services

Gemini announced the launch of Gemini Clearing™, which is a fully-electronic clearing and settlement solution for off-exchange or over-the-counter (OTC) crypto trades.

The mechanism called ‘Gemini Clearing’, will allow trades that are negotiated off-exchange or OTC to settle between Gemini accounts. 

Gemini co-founder Cameron Winklevoss announced the news via official tweet,“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.”

“The trades can either be arranged bilaterally between two parties or brokered via a third party,” Jeanine Hightower-Sellitto, Managing Director of Operations at Gemini, said in an online post. “Gemini Clearing provides regulated clearing and settlement services for such pre-arranged trades, which helps to ensure timely settlement and mitigate counterparty risk.”

Gemini does not have an OTC desk, but trades settle immediately or inside an approved settlement window. While traders can be rest assured that their trade details are known only to the parties involved and are not published via Gemini’s market data feed.