Cryptocurrency exchange Gemini is aiming at wealth clients with the latest acquisition of BITRIA, a San Francisco-based startup that helps advisors to manage holdings of cryptocurrencies, CNBC has learned.
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While the price of the deal remains undisclosed, this might be the first full-service digital asset custodians for advisors, the report says. The exchange reportedly plans to integrate BITRIA into its custodian service Gemini Custody.
"Advisors manage the biggest pool of money in the country right now, and they are hearing from their clients that want access to crypto," said Gemini's Global Head of Business Development, Dave Abner.
Founded in 2014 by Tyler and Cameron Winklevoss, Gemini was valued at $7.1 billion in the latest funding round. Last December, Gemini entered into a partnership agreement with Bancolombia, the largest commercial bank in Colombia, to allow the bank's clients to trade bitcoin (BTC), ether (ETH), litecoin (LTC), and bitcoin cash (BCH).
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