Gemini, the cryptocurrency exchange founded by the Winklevoss twins, is joining crypto-friendly bank Silvergate’s Silvergate Exchange Network (SEN) to speed fiat transfers.
Gemini announced the move in an official blog post on Aug. 27. According to the announcement, the main benefit of the exchange’s partnership with Silvergate is that Gemini’s institutional investor clients can withdraw and deposit United States dollars from their accounts at any time. This is already the industry standard for cryptocurrencies, but not for fiat money, per the report.