Gemini, a regulated Bitcoin exchange founded by the Winklevoss Twins, is officially expanding its services to Hong Kong and Singapore.
Registered users based in Hong Kong and Singapore can already begin trading USD with Bitcoin and Ethereum on Gemini’s advanced digital asset exchange.
Although the Gemini trading platform in both countries only support US Dollars at the moment, Cameron announced that the company is working on adding HKD and SGD as it continues to expand to additional areas in Singapore and Hong Kong.
Launch of daily Bitcoin auctions
On September 21, Gemini introduced the industry’s first daily Bitcoin auction to provide higher liquidity, transparency and simplicity for high profile traders.
The auction, which initiates at a fixed schedule on a daily basis, enables traders to purchase larger amounts of Bitcoins with greater price discovery, lower fees, and instant settlement. Essentially, Gemini’s daily Bitcoin auction is a digital alternative to OTC trading.
Cameron Winklevoss announced that Daily Auctions will be launched in Singapore and China as the part of the Gemini trading platform.
Competing with major Bitcoin exchanges
The launch of Gemini also provides competition amongst Bitcoin exchanges in Hong Kong and Singapore, which are dominated by major trading platforms like Bitfinex. Users in both regions will benefit from a wider range of services and a variety of Bitcoin trading platforms to select from.
Considering the difference in the vision of Gemini and other exchanges in the Asian market, users will be allowed to choose more suitable Bitcoin exchanges and trading platforms that best fit their interests and level of trades.