Cryptocurrency exchange Gemini has acquired trading provider Omniex to expand its services for institutional investors. The exchange said in an announcement, it will integrate Omniex with its existing custody, clearing, and OTC trading capabilities for institutional investors.
Gemini's Global Head of Business Development, Dave Abner, told Bloomberg that institutional clients want to have "one entry point and be able to trade wherever they can."
"Access to the entire crypto ecosystem is what people want. It is a bridge between traditional finance and crypto finance," Abner added.
As part of this acquisition, the Omniex team will be joining Gemini to expand platform capabilities for the Prime Services division, the exchange said. The move comes shortly after Gemini purchased BITRIA, a San Francisco-based startup that helps advisors to manage holdings of cryptocurrencies.
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 plans to integrate BITRIA into its custodian service Gemini Custody.
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