Cryptocurrency exchange Gemini, founded by the Winklevoss twins, has announced that it is now possible to trade bitcoin and ether in both the Hong Kong Special Administrative Region and the Republic of Singapore. Already familiar with digital currencies, the expansion to these two countries represents a critical milestone in Gemini’s goal of building a global next generation digital asset exchange.
Customers in Hong Kong and Singapore can trade bitcoin and ether using the Gemini exchange, allowing users to buy BTC with USD or ETH and sell BTC for USD or ETH, and conversely buy ETH with USD or BTC, and sell ETH for USD or BTC. Gemini will be opening HKD and SGD order books and expanding to additional areas of operation soon.
The company also highlighted its new feature, Daily Auctions (also called “crosses,” which are two-sided and not the same as winner-take-all auctions). Auctions present an opportunity for customers who want to execute large trades with over-the-counter trading quantities on-exchange without having to worry about price slippage, exorbitant fees or complicated settlement. In addition, Gemini now support US Dollar wire transfers from banks located in Hong Kong or Singapore although banks may charge currency conversion fees.