Gemini, the New York-based cryptocurrency platform run by the Winklevoss brothers, has acquired trading technology provider Omniex to aid its push into services for institutional investors.
Omniex’s technology is used for price discovery on more than 35 exchanges and over-the-counter trading desks according to Bloomberg.
The acquisition enables Gemini to publicly launch Gemini Prime, a full-service crypto prime brokerage, offering access to trading, settlement, custody, and financing services.
Press release reveals that following the full rollout of Gemini Prime in Q2 2022, the integration of Omniex with Gemini’s existing custody, clearing, and OTC trading capabilities will simplify trading for institutional investors by providing:
- A single point of access to multiple exchanges and OTC liquidity sources
- Sophisticated tools and algorithms to ensure best execution and trade transparency
- An institutional-grade trading experience with full API connectivity
This is the company’s second acquisition this year. Recently, Gemini announced its acquisition of BITRIA, a digital-asset portfolio management platform for wealth and asset managers.