Winklevoss Brothers Launch Crypto Trading App Targeting Retail Investors

News and Analysis

Gemini Trust Company, the digital asset exchange and custodian founded by Cameron and Tyler Winklevoss, announced that it had launched a new mobile app along with a new investment vehicle.

According to an official blog post published on December 11, the new app allows users to buy and sell cryptocurrencies, and monitor real-time and historical crypto market prices for Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Bitcoin Cash (BCH), and ZCash (ZEC). Users can also see the total value of their current portfolio, and set price and percentage value change alerts for their chosen coins.

“We began our mission to build the future of money by creating a licensed cryptocurrency exchange and custodian that allows our customers to buy, sell, and store cryptocurrency in a safe, secure, and compliant manner. A trusted and regulated platform, however, is just the beginning. The future of money is both digital and mobile, and now Gemini is too with the launch of the Gemini Mobile App!” reads the blog post.

The app is available for both iOS and Android, with further functionality including a “recurring buy” feature, as well as support for a newly-launched investment vehicle dubbed “The Cryptoverse”. The latter is a basket of cryptocurrencies, weighted by market capitalization, which can be bought as a single order.

In a separate interview with Forbes, Cameron Winklevoss, the president of Gemini, said that the exchange could handle the severe drop in cryptocurrency prices since the all-time highs achieved last December:

“For many years when we were building Gemini, price wasn’t a thing. Bitcoin was a $200 coin. Then, last year is actually an anomaly, and almost, you could argue, a distraction… While some capital might be leaving the market, the human capital is really impressive, and it’s long-term capital. People don’t make decisions to enter crypto on a month-to-month or price to price basis.”

Speaking to Bloomberg, the twins also revealed their 2019 goal of expanding to the Asian crypto market, where they will face stiff competition from a thriving exchange industry that includes the likes of Bitfinex, Binance and Huobi. Gemini’s expansion plans have also been rumored to include possible entry to the United Kingdom market.

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