BLOCKCHAIN2 (1)

The crypto exchange founded by the Winklevoss brothers, Gemini, is in the latest crypto news for partnering up with the infotech and financial arm of the British Telecom – in a deal that will potentially open the doors to thousands of exchanges, brokers as well as fintech institutions.

According to an official press release published by the British multinational telecommunications company, the New York based leading cryptocurrency exchange that sells Bitcoin and works as a custodian Gemini Trust LLC – has recently joined the BT Radianz Cloud.

Meanwhile, the UK’s largest telecoms operate in 180 countries globally and serve multinational organisations around the world with security, cloud and networking services through Radianz.

The release also notes that the move will provide Gemini access to one of the largest and most secure networked financial cloud communities with members that span 50 countries. It further continues stating that the network consists of thousands of brokers, institutions, exchanges and cleaning/settlement houses.

The collaboration will also help BT Radianz member to benefit from Gemini’s trading and investment platform through a secure and professional environment which is very important for institutions. So far, BT Radianz has partnered with several industry giants such as Microsoft, Cisco, Dell, Oracle, Symantec and Amazon Web Services.

According to the CIO at Gemini Nick Vigier, the move “strengthens our institutional investor connectivity and helps us better scale our offerings in this space.”

The managing director of BT Radianz stated:

“Global financial institutions have very specific requirements about the performance, resilience and security of the infrastructure over which they trade. They expect stringent service levels and will only do business under trusted commercial frameworks that help them to meet their own contractual and compliance requirements. This can make it difficult for small or new service providers to grow. 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.”

Despite the current market woes, this brings good news and expands on the thesis that 2019 may be the year when institutions enter the crypto world.