Press "Enter" to skip to content

Gemini Adds Support For DAI, Chainlink,& Orchid

Gemini, the global cryptocurrency exchange and a crypto custodian, is adding support for three more crypto assets in its list to buy, sell, and store.

With the new support for DAI (DAI), Chainlink (LINK), and Orchid (OXT), people can trade and keep their assets in a secure custody offering by Gemini along with the rest of crypto assets which are already there in the catalog.

As per the announcement, the support for deposit is going to start from Friday, April 24th, at 9:30 am ET, with trading to follow shortly after that. However, the institutional-grade crypto storage provider is yet to announce the trading date.

Reportedly, so far, the company has decided to offer trading and custody support for a total of nine crypto assets, which are: (BTC, ETH, BCH, LTC, ZEC, BAT, DAI, LINK, and OXT).

Though, custody support has issued for fifteen crypto assets which are ZRX, BRD, MANA, ENJ, FXC, GUSD, GNT, KNC, LOOM, MKR, NMR, OMG, STORJ, FIL, and CSP.

Gemini, the world’s first licensed ether exchange, so far, catering custody support for 20 ERC-20 tokens in total.

As earlier reported by KoinPost, users (both existing and new users) need to create the new Eth deposit address to deposit the recently added digital assets. The platform would not accept the current Eth address due to security reasons.

The blog has further referred to the Transfer page link where existing users can go by logging into Gemini and create a new Ethereum address.

Gemini Crypto Exchange

Gemini is the industry-leading and multi-layered security architecture for crypto assets founded in 2015 by Cameron and Tyler Winklevoss.

The company claims to provide the storage and management of digital assets in a most secure, compliant, and user-friendly custody solution in the market with $200 Million in insurance coverage.

With the support of Gemini, Orchid (OXT) is receiving a significant opportunity to expand globally as the crypto exchange accepts users worldwide.

Orchid co-founder and CEO Dr. Steven Waterhouse noted via Orchid official blog on April 9th:

“Gemini’s established history as a globally licensed, trusted name in crypto markets makes them a perfect partner for Orchid as we continue making OXT widely available. Partnering with Gemini ensures a safe environment, where users can confidently purchase private bandwidth.”

Further, Gemini President, Cameron Winklevoss said that:

 “Orchid gives you back control over your privacy and represents one of the many promises of crypto. We are delighted to support this mission-oriented project and make it available to our customers for trading and custody.”

Growing Crypto Market: A Fascination to New Users

As the crypto market is on the rise, Gemini is no behind than Binance to extend its support worldwide, especially after the outbreak of the Covid-19 pandemic. The support to DAI (DAI), Chainlink (LINK), and Orchid (OXT) can prove to be an enticing factor for crypto users to jump on the platform and avail the freshly offered services in a more lucrative way.

The exchange is offering the following the new-trading pairs and services for DAI, LINK, and OXT.

Source: Gemini Website