Cameron Winklevoss announced that Daily Auctions will be launched in Singapore and China as the part of the Gemini trading platform.
Considering the difference in the vision of Gemini and other exchanges in the Asian market, users will be allowed to choose more suitable Bitcoin exchanges and trading platforms that best fit their interests and level of trades.
On September 21, Gemini introduced the industry’s first daily Bitcoin auction to provide higher liquidity, transparency and simplicity for high profile traders.
The Gemini team believes that its Bitcoin Auctions feature will attract mainstream investors in securing substantially large investments in Bitcoin without dealing with the boundaries and friction present at most digital asset exchanges.
The auction, which initiates at a fixed schedule on a daily basis, enables traders to purchase larger amounts of Bitcoins with greater price discovery, lower fees, and instant settlement. Essentially, Gemini’s daily Bitcoin auction is a digital alternative to OTC trading.
“Auctions present an excellent opportunity for customers who want to execute large trades with over-the-counter (OTC) trading quantities on-exchange without having to worry about price slippage, exorbitant fees, and complicated settlement,” Winklevoss explained.
“As of today, registered customers in both the Lion City and the Pearl of the Orient can trade Bitcoin and Ether using the Gemini exchange.”
“We’ll be opening HKD and SGD order books and expanding to additional areas of operation soon,” he added.
Although the Gemini trading platform in both countries only support US Dollars at the moment, Cameron announced that the company is working on adding HKD and SGD as it continues to expand to additional areas in Singapore and Hong Kong.
Cameron Winklevoss announced:
The launch of Gemini also provides competition amongst Bitcoin exchanges in Hong Kong and Singapore, which are dominated by major trading platforms like Bitfinex. Users in both regions will benefit from a wider range of services and a variety of Bitcoin trading platforms to select from.
With support for both regular Bitcoin traders and high profile OTC traders that often initiate in 7 to 8 figures buy orders of Bitcoins, Gemini has established a necessary infrastructure for the Bitcoin market in two of the most innovative leaders in the Asian Fintech market today.
Registered users based in Hong Kong and Singapore can already begin trading USD with Bitcoin and Ethereum on Gemini’s advanced digital asset exchange.
Gemini, a regulated Bitcoin exchange founded by the Winklevoss Twins, is officially expanding its services to Hong Kong and Singapore.
Australia Warns of Fake 'Tax Collectors' Demanding Bitcoin
The Australian Taxation Office (ATO) issued a warning about would-be scammers trying to con people out of their cryptocurrency.
Since late last year, scammers have been calling Australians and impe
Bitcoin briefly falls below $8,000 after Google says it will ban cryptocurrency ads
Bitcoin prices briefly fell below $8,000 on Wednesday following news that Google, the world's largest online ad provider, plans to ban cryptocurrency advertising. Facebook, the second largest
Crypto Is a 'Crock'? Twitter Reacts to House ICO Hearing
Despite the overall measured tone among lawmakers at Wednesday's House subcommittee hearing on initial coin offerings, a few members of the panel made inflammatory statements.
Social media users re
UK Crypto Exchange to Launch Bitcoin Futures Contracts
A British cryptocurrency exchange is planning to enter the bitcoin futures market.
CoinfloorEX, a London-based exchange founded in 2013, announced Wednesday that it would launch bitcoin futures con
Congressional hearing on cryptocurrencies devolves into bitcoin bash fest
A House Financial Services subcommittee met Wednesday in what was supposed to be an overview of the cryptocurrency landscape. The two-hour hearing raised more questions than answers, and shined a
Square closes near all-time high after analyst compares stock to early days of Amazon
Shares of Square hit a new all-time intraday high Wednesday, jumping more than 5 percent after an analyst report compared the stock to 'Amazon in its early days.' Shares closed at $54.60
Bitcoin Price Sheds $800 In Drop to 1-Month Low
Bitcoin hit a one-month low on Wednesday as its price slipped below $8,300 during afternoon trading.
CoinDesk's Bitcoin Price Index (BPI) had fallen to as low as $8,287.98 as of press time, represe
Brazilian Officials Caught Using Bitcoin in $22 Million Scam
Police officials in Rio de Janerio have uncovered a money laundering scheme in which state officials siphoned off money intended for prison supplies, using bitcoin to exchange some of the proceeds.