Tyler and Cameron Winklevoss’ cryptocurrency exchange has taken another step that might boost its credibility among conventional financial institutions. According to Coin Telegraph, Gemini Trust Company, LLC has announced that former New York Stock Exchange (NYSE) Chief Information Officer Robert Cornish has joined the company. According to the story, Cornish will join Gemini as the exchange’s first Chief Technology Officer.
Cornish Will Help “Deliver The Best Platform Experience”
Cornish will help “guarantee that Gemini continues to offer the finest platform experience to our consumers possible and establish the standards of excellence for the cryptocurrency industry as a whole,” according to Gemini CEO Tyler Winklevoss. Cornish has also previously held top roles at the International Securities Exchange. He will spearhead technical activities at Gemini and oversee the use of Nasdaq’s SMARTS Market Surveillance platform. Earlier this year, Gemini formed a cooperation with Nasdaq to handle its order books and Gemini Auctions. In April, Gemini revealed intentions to provide cryptocurrency block trading outside of its standard order books. The exchange established a collaboration with the Chicago Board Options Exchange in December 2017 to introduce bitcoin futures. The Winklevoss brothers announced intentions to add support for zcash, bitcoin cash, and litecoin to the Gemini platform in May of this year. Gemini announced that it has become the world’s first regulated zcash exchange after receiving clearance from the New York State Department of Financial Services (NYDFS).Each of these actions has strengthened Gemini’s reputation in the conventional financial sphere, as well as its popularity among prospective digital currency investors.
Trend of Wall Street Leaders Moving to Blockchain?
Cornish becomes the latest Wall Street executive to convert to blockchain-focused startups with his shift to Gemini. Former Goldman Sachs Executive Director Priyanka Lilaramani joined HOLD, a crypto firm in Malta, as CEO earlier this year. Last year, Coinbase, the biggest cryptocurrency exchange, hired David Marcus, a former PayPal and Facebook executive, to its board of directors. Nonetheless, the mainstream financial industry has remained wary about cryptocurrencies in general, with a number of senior executives and experts claiming that the digital currency market is a bubble.
Investing in cryptocurrencies and Initial Coin Offerings (“ICOs”) is very dangerous and speculative, and this article is not a suggestion by Investopedia or the writer to do so. Because every person’s circumstance is different, a knowledgeable specialist should always be contacted before making any financial choices. Investopedia makes no guarantees or warranties about the accuracy or timeliness of the information provided on this site. The author owns bitcoin and ripple as of the day this post was published.
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