Gemini Acquires Omniex to Introduce Prime Brokerage Services

On January 19, the cryptocurrency exchange Cryptocurrency Exchange A cryptocurrency exchange is an online platform that supports the exchange of various currencies for a cryptocurrency or digital asset.Comparable to a generalized financial exchange, a crypto exchange’s core function is to permit and encourage the buying and selling of cryptos.This is accomplished by producing a stable trading environment suitable for traders nested through different locations around the world. Sometimes a crypto exchange may be referred to as a digital currency exchange (DCE) f A cryptocurrency exchange is an online platform that supports the exchange of various currencies for a cryptocurrency or digital asset.Comparable to a generalized financial exchange, a crypto exchange’s core function is to permit and encourage the buying and selling of cryptos.This is accomplished by producing a stable trading environment suitable for traders nested through different locations around the world. Sometimes a crypto exchange may be referred to as a digital currency exchange (DCE) f Read this Term, Gemini based in New York, announced that it had acquired Omniex trading technology platform to provide more institutional services to its clients. According to the announcement on Wednesday, Gemini stated that it had bought Omniex in order to launch a new prime brokerage, Gemini Prime. In other words, Gemini has plans to introduce a prime brokerage firm following its acquisition Acquisition Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant's service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant's service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There Read this Term of Omniex. However, the terms of transactions for Omniex were undisclosed. Omniex offers order, execution and portfolio management services for institutional cryptocurrency traders.

Gemini said that it plans to integrate Omniex with its existing custody trading services. Although the New York-based crypto exchange has been offering services to large investors for many years with its custody, clearing, and OTC trading services, the latest acquisition would enable the company to offer its customers with more complex sophisticated trading tools and algorithms and access to multiple exchanges and external OTC liquidity sources, as well as access to an institutional-grade trading experience with full API connectivity.

Omneix was established by the CEO, Hu Liang and the Chief Strategy Officer, John Burnett. Both will join Gemini’s new prime brokerage business division.

Gemini Is Committed to Diversity Its Business Revenue Streams

The development by Gemini comes at a time when the firm remains committed to diversifying its revenue stream, expanding its new territories, acquiring top companies, and investing in industry-redefining innovations. The latest acquisition comes less than a week after Gemini bought the digital-asset management company, Bitria as it seeks to attract more institutional investors. In November last year, Gemini raised $400 million in growth equity funding led by Morgan Creek Capital. As a result, the funding round puts Gemini’s valuation at $7.1 billion. Last year, the company also acquired Blockrise Capital to assist in launching the Gemini Credit card. Furthermore, the company acquired ShardX, a crypto custody technology startup, in order to introduce ‘Gemini Earn’ that allows its users to lend their crypto assets.