- Omniex and Gemini partnership aimed to foster cross-connection in Equinix’s low latency NY5 data center.
- Omniex says the deal will eliminate market challenges and enhance crypto trading experiences for institutional investors.
In a bid to improve the market infrastructure available in the cryptoasset sector, Omniex, a complete front-to-back office solution for institutions to trade bitcoin and other cryptos, has partnered with Gemini exchange to cross-connect in Equinix’s low-latency NY5 data center, reported Finance Magnates on October 10, 2018.
Omniex Joins Forces with Gemini
Omniex, a platform purposely-built by technologists and financial professionals with trusted track records, has reportedly joined forces with Gemini cryptoassets exchange to cross-connect in Equinix’s low-latency NY5 server farm.
While institutional investors keep showing interest in the nascent cryptospace, the sector still lacks the credibility available to contributors in the traditional financial system.
Amidst that backdrop, the team has made it clear that the new partnership seeks to eliminate a vast array of challenges including connectivity, while also fostering high-performance trading and more.
Established in August 2017, Omniex strives to provide highly function crypto-related services like portfolio and risk management, exchange execution and more.
Although still very much in its nascent stage, Omniex says the crypto resources have numerous exceptional traits not seen in other financial markets.
As such, the Omniex team has developed their platform to represent the subtleties of these unique asset class.
Omniex and Gemini Attracting Top Wall Street Talents
While the Omniex and Gemini platforms are already bursting with excellent talents in both the distributed ledger technology (DLT) and the global financial system, the teams are however not resting on their oars.
Earlier in the year, reports emerged that Omniex had hired the former U.S SEC chair, Arthur Levitt and the former Federal Deposit Insurance Corp chairman, Sheila Bair to its board of advisors.
Gemini, on the other hand, announced the addition of Jeanine Hightower-Selitto, the former chief operating officer of International Securities Exchange (ISE), on October 10, 2018.
CEO of Gemini, Tyler Winklevoss, reiterated that the cryptocurrency trading platform’s partnership with Omniex is because the latter’s core values of purpose-built technology that allows institutional investors to address regulatory challenges present in the virtual currency industry correlate with Gemini’s philosophy.
“As our cryptoassets industry continues to mature, it will be vital to work with firms that understand the nitty-gritty of institutional operations while providing highly functional technology for investor empowerment,” added Winklevoss.
Allthough Gemini exchange currently supports only bitcoin and a few established cryptos, the platform is, however, blazing the trail in the blockchain ecosystem.
On October 5, 2018, Blockchain Reporter informed that Gemini digital assets exchange had obtained insurance coverage from a top insurance firm, to cover cryptos in its hot wallet.