Gemini Exchange Secures Nasdaq Investment Ahead Of $317 Million IPO
Gemini, the cryptocurrency exchange founded by Cameron and Tyler Winklevoss, has lined up Nasdaq as a strategic backer for its planned initial public offering in New York this week.
What Happened: The exchange is aiming to raise as much as $317 million through the listing and has secured a commitment from Nasdaq to purchase $50 million worth of shares in a private placement at the time of the IPO, Reuters reported, quoting sources.
The arrangement, which has not yet been made public, would also create a partnership between the two companies.
As part of the agreement, Nasdaq’s clients will gain access to Gemini’s custody and staking services, while Gemini’s institutional users will be able to utilize Nasdaq’s Calypso platform for managing and tracking collateral.
Gemini is expected to begin trading under the ticker “GEMI” …
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