Gemini Acquires Omniex to Introduce Prime Brokerage Services

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On January 19, Gemini
 
 cryptocurrency exchange 
based in New York, announced that it acquired Omniex trading technology platform to provide more institutional services to its clients. According to the announcement on Wednesday, Gemini stated that it bought Omniex in order to launch a new prime brokerage, Gemini Prime. In other words, Gemini has plans to introduce a prime brokerage firm following its
 
 acquisition 
of Omniex. However, the terms of transactions for Omniex were undisclosed. Omniex offers order, execution and portfolio management services for institutional cryptocurrency traders.

Gemini said that it plans to integrate Omniex with its existing custody trading services. Although, the New York-based crypto exchange has been offering services to large investors for many years with its custody, clearing, and OTC trading services, the latest acquisition would enable the company to offer its customers with more complex sophisticated trading tools and algorithms and access to multiple exchanges and external OTC liquidity sources, as well as access to an institutional-grade trading experience with full API connectivity.

Omneix was established by CEO Hu Liang and Chief Strategy Officer John Burnett. Both will join Gemini’s new prime brokerage business division.

Gemini Is Committed to Diversity Its Business Revenue Streams

The development by Gemini comes at a time when the firm remains committed to diversify its revenue stream, expand its new territories, acquire top companies, and invest in industry-redefining innovations. The latest acquisition comes less than a week after Gemini bought digital-asset management company Bitria as it seeks to attract more institutional investors. In November last year, Gemini raised $400 million in growth equity funding led by Morgan Creek Capital. As a result, the funding round puts Gemini’s valuation at $7.1 billion. Last year, the company also acquired Blockrise Capital to assist in launching the Gemini Credit card. The company also acquired ShardX, a crypto custody technology startup, in order to introduce ‘Gemini Earn’ that allows its users to lend their crypto assets.

On January 19, Gemini
 
 cryptocurrency exchange 
based in New York, announced that it acquired Omniex trading technology platform to provide more institutional services to its clients. According to the announcement on Wednesday, Gemini stated that it bought Omniex in order to launch a new prime brokerage, Gemini Prime. In other words, Gemini has plans to introduce a prime brokerage firm following its
 
 acquisition 
of Omniex. However, the terms of transactions for Omniex were undisclosed. Omniex offers order, execution and portfolio management services for institutional cryptocurrency traders.

Gemini said that it plans to integrate Omniex with its existing custody trading services. Although, the New York-based crypto exchange has been offering services to large investors for many years with its custody, clearing, and OTC trading services, the latest acquisition would enable the company to offer its customers with more complex sophisticated trading tools and algorithms and access to multiple exchanges and external OTC liquidity sources, as well as access to an institutional-grade trading experience with full API connectivity.

Omneix was established by CEO Hu Liang and Chief Strategy Officer John Burnett. Both will join Gemini’s new prime brokerage business division.

Gemini Is Committed to Diversity Its Business Revenue Streams

The development by Gemini comes at a time when the firm remains committed to diversify its revenue stream, expand its new territories, acquire top companies, and invest in industry-redefining innovations. The latest acquisition comes less than a week after Gemini bought digital-asset management company Bitria as it seeks to attract more institutional investors. In November last year, Gemini raised $400 million in growth equity funding led by Morgan Creek Capital. As a result, the funding round puts Gemini’s valuation at $7.1 billion. Last year, the company also acquired Blockrise Capital to assist in launching the Gemini Credit card. The company also acquired ShardX, a crypto custody technology startup, in order to introduce ‘Gemini Earn’ that allows its users to lend their crypto assets.

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