According to a Medium post published today, Gemini Trust Company will be launching a new mobile app. The exchange founded by Tyler and Cameron Winklevoss appears to be targeting retail investors at a time when several of their competitors are aiming more towards institutional capital.
The free app, currently available both for Android and iOS, will enable the main functions usually requested by traders, such as buying and selling BTC, ETH, BCH, LTC and ZEC, sending and receiving transactions, checking market prices and setting price alerts or recurring buy orders.
An interesting product which will also be offered in the Gemini mobile app will be the Cryptoverse, a basket of the 5 cryptos offered by the exchange, weighed by market capitalization. Currently the price of Bitcoin would conform more than 80% of the investment vehicle’s valuation.
On an interview published earlier today in Forbes coinciding with the launch of the new app, Cameron Winklevoss showed his optimism about the current market situation: ‘We can weather this downturn.’ Later in the interview, he added: ‘For many years when we were building Gemini, price wasn’t a thing. Bitcoin was a $200 coin […] Then, last year is actually an anomaly, and almost, you could argue, a distraction.’
With their new app, Gemini is jumping into the retail investor scenario rather late, as Kraken, Coinbase or Binance have been offering similar products for several years already. However, they are doing so after doubling the number of employees over the last year while working on the institutional level, a field which their competitors are only now tapping more intensively.