Gemini, a United States cryptocurrency exchange and custody platform, has joined other exchanges like Coinbase to enable trading support for decentralized finance (DeFi) tokens. In addition to trading, the Gemini exchange is topping the game by announcing custody support for most of the popular DeFi tokens.
This is coming soon after the exchange launched a UK branch.
Gemini exchange rolls out support for seven DeFi tokens
Following the announcement of Friday, Gemini exchange went so far in launching trading and custody support for decentralized finance tokens. To start with, Gemini noted that it now supports about seven tokens, namely Uniswap (UNI), Balancer (BAL), Yearn.finance (YFI), Curve (CRV), Synthetix Network (SNX), Ren Network (REN), and Uma (UMA), specifically for trading and custody.
Additionally, it enabled trading support for five tokens, which were already supported for custody only. They include Kyber Network (KNC), Storj (STORJ), Maker (MKR), Decentraland (MANA), and 0x (ZRX). Also, it included Wrapped Bitcoin (wBTC), Keep Network (KEEP), and tBTC (tBTC), which was recently redeployed, for custody support only.
Spree listing of DeFi tokens
“The Decentralized Finance (DeFi) revolution is coming into bloom, and it presents the possibility of permissionless, bankless, alternatives to the legacy financial system. Its promise is aligned with our ethos of giving you greater choice, independence, and opportunity.”Gemini noted.
With these massive listings, Gemini exchange became the first regulated entity to launch trading and custody support for the tokens in the whole New York state. The exchange now has a total of 24 cryptocurrencies that can be traded and kept under custody.
Centralized cryptocurrency exchanges have developed a keen interest in decentralized finance tokens, probably due to the recent boom in the industry. Quickly enough, popular cryptocurrency exchanges like Coinbase and Binance have listed a good number of DeFi tokens for trading on their platform, including the recently launched Uniswap token (UNI).