It is with great enthusiasm that we present Gemini’s newest offering — Segregated Accounts under the oversight of the New York State Department of Financial Services (NYSDFS). Many customers such as hedge funds, mutual funds, or exchange-traded funds may be required by law to store their digital assets with a regulated custodian like Gemini in separate and dedicated custodial accounts (i.e. unique Bitcoin addresses that are not commingled in a pooled account). As a limited purpose trust company, Gemini is uniquely positioned to legally and securely custody digital assets on behalf of customers with these specific needs. These Segregated Accounts, like Gemini Depository Accounts, leverage our proprietary offline (i.e., air-gapped) Cold Storage system for both bitcoin and ether.
While security has always been a fundamental concern in the cryptocurrency community, recent large-scale thefts and uncertainty regarding exchanges’ legal obligation to customers have further highlighted the necessity of providing a legal and secure means of storing digital assets. Since we first launched, our paramount concern has always been protecting the integrity of our customers’ funds, and this has motivated our uncompromising commitment to financial security and regulatory oversight. We’re excited to continue to expand upon our mission of offering safe and regulated custodial services for digital assets.
Onward and Upward,