@zackshapiro great question. Gemini is a New York state limited liability trust company, we did not apply for or have a BitLicense which is a much lower standard. As a limited liability trust company we are a fiduciary, which allows us to accept both individual and institutional customers under New York Banking Law (unlike the BitLicense, which does not convey such fiduciary powers). In short, we can work with both Main Street and Wall Street.
@eriktorenberg Absolutely. Cameron and I first learned about Bitcoin in the summer of 2012. We were immediately bitten by the Bitcoin bug and started to buy bitcoins the asset. At the time the only exchange was Mt. Gox. As stakeholders in Bitcoin we felt that this was problematic for a host of reasons and disagreed with the race to the bottom mentality and general trend among bitcoin companies of moving offshore and away from regulation. As investors with Winklevoss Capital, we looked for exchanges to bet on but couldn't find any that we felt were getting it right -- so we decided to go do it ourselves. We started to build Gemini to fix an major infrastructure problem in Bitcoin, namely the lack of regulated onramps and gateways into Bitcoin in the United States. If Bitcoin was going to grow up, Bitcoin companies needed to start acting like grownups. We opened a dialogue with regulators a year and a half ago, recruited top tier financial engineers and began building a platform that was as safe, secure and compliant as any top tier financial institution in the world. We think we achieved our goals and today we're open for business!
We're excited to talk more about the evolution of Gemini and our journey in Bitcoin with you guys on 10/15 during our Product Hunt AMA! https://www.producthunt.com/live...
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Congrats on the launch! Proud and inspired to see you guys be doing so much. Great investors, great founders. So excited for Gemini.
So excited to use this. The Winklevosses have been leaders on Bitcoin since its inception and this is the most exciting thing in the space in a long time.
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@tylerwinklevoss Any plans for making this available internationally? Specifically with offshore financial centers?
@muloka Absolutely, we have plans to increase our area of operation to include Europe, Asia and other jurisdictions around the world, stay tuned!
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@tylerwinklevoss Would you be interested in registering your company here in Bermuda and having access to the BSX, Bermuda stock exchange. I believe there are many benefits in doing so and would like to discuss the pros and cons.
Congrats on the launch, I'm super bullish on bitcoin still and think we are still in its infancy. It's terrific to see an exchange get setup at a higher standard than BitLicense.
It's great to see new BItcoin launches on Product Hunt. @tylerwinklevoss Does this mean you need to be a US based user or have a US bank account to use your Bitcoin exchange?
@paul_s_kemp Right now we are open in 26 US states and in Washington, D.C.. More info here: https://blog.gemini.com/geminis-...
We are working very hard to rapidly expand our area of operation to include additional US states as well as Europe, Asia and other jurisdictions, so stay tuned!
@tylerwinklevoss I've had several episodes on my chart topping podcast talking with Bitcoin related founders. You're both welcome as guests on The App Guy Podcast anytime to talk about Gemini. Just email me (Paul@TheAppGuy.co) whenever you're interested in a 25 minute chat (using a new cool recording app) . I'll then email you a link to my guest booking page.
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