Tyler Winklevoss: Gemini is basically a Nasdaq for bitcoin buying and selling

Gemini, a New York-based bitcoin exchange led by Winklevoss brothers, launched officially on Thursday, October 8th. It will be operating in 26 US states and in Washington, DC with plans to expand coverage area rapidly.

The exchange recently received two crucial approvals from NYDFS - approval for its Articles of Organization, and was granted an exemption from the deposit insurance requirements of Section 32 of the Banking Law.

Tyler and Cameron Winklevoss opened up about the launch of Gemini bitcoin exchange during an interview on FOX Business Network’s Countdown to the Closing Bell.

“Gemini is basically a Nasdaq for bitcoin buying and selling,” Tyler Winklevoss said. “Just like you sign onto E*TRADE and buy a share of Apple, you can into Gemini… and you can buy and sell bitcoin.”
Cameron Winklevoss added, “Basically bitcoin is borderless. It’s very much a global currency. There’s no sort of constraints in that manner.”

Two of the most important aspects of the new exchange according to the famous twins are licensing and security.

“We have had a dialogue with regulators for over a year and a half and we’re fully licensed… we worked really hard to make this as compliant as any other banking or financial institution”, Tyler said.

“Security’s been top of mind since day one,” Cameron added. “Our first couple hires were actually security hires… that’s not an afterthought, it’s a forethought and it’s something we take very seriously and have built the company on top of.”

They are planning to expand the exchange’s coverage to other countries around the world.

“We are rapidly expanding to try and do all the U.S. and the U.S. territories,” Tyler said. “We’re also looking at opening up in Europe and Asia as soon as possible. It just takes a little bit of research and some time to get to the regulation as well, as we’re looking at Canada.”