Crypto Exchange Gemini, Omniex to Improve Market Access and Connectivity for Institutional Investors

Francisco Memoria

The Winklevoss twins’ Gemini cryptocurrency exchange and Omniex, a firm that develops technology and services to make it easier for financial institutions to trade cryptocurrencies, have recently announced a partnership.

According to a press release shared with CryptoGlobe, the two organizations have cross-connected in Equinix’s low-latency NY5 data center, which “caters to large financial institutions and electronic trading ecosystems.”

The partnership’s goal, according to the press release, is to “deliver the connectivity, features and high-performance trading experience institutional investors need,” that has reportedly been lacking from the cryptocurrency ecosystem.

Commenting on the development Hu Liang, the CEO and co-founder of Omniex, stated:

Fragmented and immature crypto market structure has left institutional investors at a loss for robust solutions, forcing some providers to resort to tweaking platforms engineered for other asset classes. Cross-connecting to Gemini in NY5 further expands the unrivaled level of reliability and performance our clients expect and need to execute on their investment strategies.

Tyler Winklevoss, the CEO of Gemini, added Omniex shares the exchange’s philosophy that “technology must be purpose-built for institutional investors” in order to address regulatory challenges cryptoassets currently face.

Omniex’s platform is notably built for institutional investors seeking exposure in the industry. The firm has developed an execution management system (EMS) deployed in Equinix’s NY5 data center, along with a portfolio manager and order management system, to cater to investors. Given its features, it allows for direct market access and connectivity.

Per the press release, its platform is connected to the largest liquidity providers in the crypto space, including “leading exchanges and OTC market makers from around the world.” Omniex, which has offices in San Francisco and California, has claimed cryptoassets have attributes other financial assets don’t.

The Gemini exchange, as covered, has earlier this year launched a dollar-backed stablecoin called Gemini Dollar (GUSD), regulated by the New York State Department of Financial Services. It is also set to add support for litecoin and bitcoin cash.

Responding to rumors that claimed Gemini was going to open a crypto exchange in the UK, the company has last month issued a statement clarifying it has “no immediate plans” but will keep on evaluating “opportunities that allow the global economy to buy, sell and store digital assets in a regulated, secure, and compliant manner.”