Cameron and Tyler, the Winklevoss Brothers, are really confident that their upcoming bitcoin exchange Gemini is going to be the institution bitcoin needs. They claim that Gemini can help the US bitcoin ecosystem develop to its full potential by being the fully regulated and compliant institution bitcoin needs right now.
The response to competition
While neither of the Winklevoss brothers addressed any of their competitors directly, they have their way of explaining how Gemini stands out from other exchanges. ‘Regulated exchanges‘ have indeed been dominating the headlines lately. It has started feeling like an arms race and the smoke hasn’t cleared yet. We still can’t tell for sure which bitcoin exchange is going to be a market leader in the US. Cameron addressed competition stating:
“We aren’t interested in trying to find a way to be semi-operational, or operate around the fringe or hack our way in.”
Highlighting the importance of regulation for a bitcoin exchange, Tyler said the following:
“There’s regulation, compliance and then there’s security and product, […] A lot of people just look at product and forget the other three. We consider all four of these issues as crucial to being a successful business.”
‘The exchange the market needs’
Tyler and Carter expressed confidence that they’ve assembled one of the best possible teams to create a leading bitcoin exchange in the US. Absence of such an exchange was according to them, setting back the country’s bitcoin ecosystem. In their interview, Cameron and Tyler named members of their team, mentioning that they had brought on board former employees of many innovative projects and companies. Amongst others, startup Airbnb, Google Wallet and even Microsoft.
They also noted that Gemini will be definitely targeting both individuals and institutions… [It] will be suitable for anyone from individual hobbyist traders all the way to professional institutional traders.
Images from Gemini.