Liquid teams up with Gemini to increase liquidity and lists Coinbase's USDC

02 Nov, 2018
by Will Heasman
Liquid teams up with Gemini to increase liquidity and lists Coinbase's USDC

The new Liquid trading platform has announced a partnership with popular cryptocurrency exchange, Gemini.

A blog post published today (November 2nd) by the Liquid team tells of the partnership between the two platforms; a coalition which aims to bring liquidity and stability to the cryptocurrency market.

 According the post, the venture between the two will prioritize compliance, regulation and security. This is a first for the emergent Liquid exchange, who sees Gemini as the first official partner of its “External World Book”, a global liquidity pool sourced from a network of crypto exchanges.   

On top of combining liquidity, the partnership sees Liquid adding Gemini’s native stablecoin – The Gemini dollar (GUSD) - to its listings.

Liquid CEO, Mike Kayamori, spoke on the listing of GUSD: 

“The Gemini dollar is an obvious choice for Liquid. Both Liquid and Gemini put transparency, regulation and compliance at the forefront of our operations. We are proud and honoured to be able to offer Liquid customers the opportunity to use a stablecoin that can stand up to regulatory scrutiny. We will now explore the opportunity to develop a JPY-pegged stablecoin,”. 

Tyler Winklevoss, one-half of Gemini’s owners, praised Liquid for their choice of stablecoin:

"We are excited to see Liquid's adoption of the Gemini dollar. We believe a truly regulated and transparent stablecoin is a huge step forward for the ecosystem and appreciate Liquid's support in bringing GUSD to their marketplace,"

In a separate blog post also published today, Liquid announced that it has also listed USD Coin (USDC), a regulated stablecoin pegged 1:1 to the US dollar and famously governed by the Coinbase and Circle consortium: CENTRE.

Both GUSD and USDC will initially be paired with Bitcoin (BTC) and Ethereum (ETH) with plans to trade against other cryptocurrencies in the future.  

“We are thrilled to see Liquid launch support for USDC. As the leading exchange for the Japanese Yen market and a pioneer in the cryptocurrency exchange market, they are a strong partner for USDC.  We share a common vision of an open, connected and global financial system built on cryptocurrency assets and blockchain technology, and this is an important step in reaching that goal as we connect additional major markets with open fiat rails. We are looking forward to future collaboration with Liquid as we expand our efforts in this space together,” said Circle CEO Jeremy Allaire.

Read more: Crypto exchanges Quoinex and Qryptos to become as of 4 September

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