Gemini co-founder Tyler Winklevoss took to Twitter to proclaim that the “DeFi Revolution is upon us,” coinciding with the announcement of three new cryptocurrency listings on Gemini: Pax Gold (PAXG), Amp (AMP), and Compound (COMP). Trading for these cryptos will commence on Tuesday, September 15.
Gemini’s New Crypto Additions
With the inclusion of PAXG, AMP, and COMP, Gemini continues to expand its ecosystem, now offering trading and custody support for a total of 12 cryptocurrencies, including:
- Bitcoin (BTC)
- Ethereum (ETH)
- Bitcoin Cash (BCH)
- Litecoin (LTC)
- Zcash (ZEC)
- Basic Attention Token (BAT)
- Dai (DAI)
- Chainlink (LINK)
- Orchid (OXT)
- Pax Gold (PAXG)
- Amp (AMP)
- Compound (COMP)
In addition, Gemini offers custody support for 13 other cryptocurrencies, such as Maker (MKR), Kyber Network (KNC), and Numeraire (NMR).
Trading Pairs and Supported Platforms
Gemini will provide USD trading pairs for PAXG, AMP, and COMP across its ActiveTrader™ platform, API connections, desktop interface, and mobile apps. Supported fiat currencies include USD, AUD, CAD, and HKD, enhancing global accessibility.
These assets align with Gemini’s vision of broadening user engagement with the crypto ecosystem.
Why These Cryptos Matter
- Pax Gold (PAXG): A gold-backed stablecoin that bridges traditional assets with blockchain technology, offering a modern way to hold and trade gold.
- Amp (AMP): A digital collateral token designed to facilitate instant and secure transactions in the cryptocurrency ecosystem.
- Compound (COMP): A DeFi governance token for the Compound protocol, which allows users to lend and borrow assets seamlessly.
Tyler Winklevoss on DeFi
In his tweet, Winklevoss declared:
“The DeFi Revolution is upon us.”
This statement underscores Gemini’s commitment to decentralized finance (DeFi), an area rapidly gaining traction in the crypto world. By adding COMP to its platform, Gemini enables users to explore the growing DeFi space, including lending, borrowing, and governance protocols.
Gemini’s Commitment to Crypto Growth
Gemini’s latest updates demonstrate its leadership in driving crypto adoption. By integrating assets that bridge traditional finance and cutting-edge decentralized technologies, Gemini is empowering users to interact with the evolving crypto ecosystem.
Winklevoss’s bold claim about the DeFi Revolution reflects the firm’s strategic focus on innovation, security, and accessibility, positioning Gemini at the forefront of the digital asset revolution.
FAQs About Gemini’s New Additions
1. What is Pax Gold (PAXG)?
Pax Gold is a cryptocurrency backed by physical gold, providing investors with a blockchain-based way to trade and hold gold securely.
2. What is Amp (AMP)?
Amp is a collateral token designed to guarantee secure and instant transactions, providing assurances for both digital and physical value exchanges.
3. What makes Compound (COMP) significant?
COMP is a governance token for the Compound protocol, enabling holders to participate in decision-making processes for the decentralized lending and borrowing platform.
4. How can users trade these assets on Gemini?
Users can trade PAXG, AMP, and COMP using Gemini’s ActiveTrader™ platform, desktop, and mobile apps.
5. What is Tyler Winklevoss’s view on DeFi?
Tyler Winklevoss believes that DeFi is the future of finance, as reflected in his statement that “the DeFi Revolution is upon us.”
Conclusion: A Bold Step Toward DeFi Adoption
Gemini’s decision to integrate PAXG, AMP, and COMP underscores its commitment to empowering users in the ever-expanding cryptocurrency landscape. With trading set to begin on September 15, these additions signify a major step toward making the DeFi ecosystem more accessible to users worldwide.
To learn more about the innovative startups shaping the future of the crypto industry, explore our article on latest news, where we delve into the most promising ventures and their potential to disrupt traditional industries.
Disclaimer: The information provided is not trading advice, Bitcoinworld.co.in holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.