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What is the relationship between Gemini and FDIC?

avatarAndrew LeonardFeb 18, 2022 · 3 years ago3 answers

Can you explain the connection between Gemini and FDIC in the context of the cryptocurrency industry?

What is the relationship between Gemini and FDIC?
Gemini
FDIC
Cryptocurrency

3 answers

  • avatarFeb 18, 2022 · 3 years ago
    Gemini, a popular cryptocurrency exchange, has partnered with a qualified custodian that is a member of the Federal Deposit Insurance Corporation (FDIC). This partnership allows Gemini to offer FDIC insurance coverage for the USD deposits held in their Gemini Custody accounts. This means that if there is a bank failure, the FDIC insurance coverage can protect the USD deposits up to the maximum limit set by the FDIC.
  • avatarFeb 18, 2022 · 3 years ago
    Gemini and FDIC have a relationship in which Gemini provides its customers with the added security of FDIC insurance coverage for their USD deposits. This is an important feature for users who want to ensure the safety of their funds in case of any unforeseen circumstances.
  • avatarFeb 18, 2022 · 3 years ago
    In the cryptocurrency industry, Gemini stands out by offering FDIC insurance coverage for USD deposits held in their Gemini Custody accounts. This partnership with a member of the FDIC provides an extra layer of protection and peace of mind for users who value the security of their funds. It's worth noting that not all cryptocurrency exchanges offer this level of insurance coverage, making Gemini a preferred choice for those seeking added security.

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