Crypto Exchange Gemini Joins Silvergate Bank to Allow Fiat Deposit and Withdrawal 24/7/365
Gemini has joined the Silvergate Exchange Network (SEN), revealed Joshua Rawlins, Managing Director of Financial Operations of Gemini, in the official announcement on Tuesday.
The cryptocurrency exchange and custodian that allows customers to buy, sell, and store digital assets, Gemini now allows its institutional customers to deposit and withdraw US dollars to and from the Gemini account around the clock.
“Excited to announce that Gemini has joined the Silvergate bank Exchange Network. You can now deposit and withdrawal your fiat currency 24/7/365. Onward and upward!,”
Unlike the cryptocurrency market that operates 24 hours a day, 7 days a week, and 365 days a year without a single stop, banks don't follow the same schedule.
Because of this fiat currencies remained “shackled” to banking hours or business hours.
And Silvergate Exchange Network (SEN) helps Gemini in solving this problem.
Gemini is integrated with SEN’s API that allows the exchange to process deposits and withdrawals automatically and instantly.
With this partnership, institutional investors of the cryptocurrency exchange can now move their fiat currency into and out of Gemini as easily as digital currencies.