The Gemini cryptocurrency exchange of the Winklevoss brothers announced the acquisition of Omniex, a trading-technology provider. The terms of the deal were not disclosed.
1/5 We are thrilled to announce the acquisition of @OmniexInc, a trading technology platform that provides order, execution, and portfolio management system solutions for institutional crypto trading. https://t.co/LuwkEE6P80
— Gemini Institutional (@GeminiInsti) January 19, 2022
It is expected that the Omniex integration will enable Gemini Prime, the prime-brokerage unit, to be publicly launched in the second quarter of 2022. The platform’s technologies are intended to provide:
- a single access point to multiple exchanges and OTC liquidity;
- advanced trading tools and algorithms;
- conditions for institutional-level trading with full API connectivity API.
Throughout 2021, Gemini Prime worked with a select group of institutional investors.
They want to have a single entry point and the ability to trade wherever possible. Access to the entire crypto ecosystem is what people are seeking. It\’s a bridge between traditional finance and cryptocurrency,
According to him, more and more institutions are examining digital assets as they prepare to invest.
We are currently spending a lot of time educating institutional players who are preparing to enter the market. It’s akin to turning a cruise ship — a slow process. We see this and thus believe that now is the right moment,
Omniex was founded by former State Street executives Hu Lian and John Barnett. As part of the deal, the platform’s team will join Gemini.
Earlier, Gemini acquired BITRIA’s asset-management platform for financial advisers and asset managers.