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Crypto exchange Gemini and digital asset custodian Rakkar are partnering to advance digital asset adoption in Asia.
Gemini will offer Rakkar's clients its trading capabilities, bringing enhanced liquidity and competitive pricing, according to an announcement on Tuesday.
Through their partnership, the firms aim to provide institutional investors with the confidence and tools to navigate the landscape and advance digital asset adoption in Asia.
“Our alliance with Gemini will not only enhance the security and reliability that financial institutions seek. It will also empower our institutional clients with greater market accessibility and opportunities as they navigate through the evolving realm of digital assets,” said Arthit Sriumporn, CEO and founder at Rakkar, said in the announcement.
Saad Ahmed, head of APAC at Gemini, added that Gemini's top priority has always been to ensure a "secure and robust crypto ecosystem for our institutional clients" and that the collaboration with Rakkar will allow Gemini to expand these efforts.
Rakkar, Asia's largest digital asset custodian, also formed a strategic partnership with DigiFT last month.
"By collaborating with a regulated RWA exchange like DigiFT, we pave the way for institutions to achieve a more capital-efficient future,” Sriumporn said at the time.
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Rakkar was also the first custodian partner in APAC for Ondo Finance's ecosystem earlier this year.
The collaboration aimed to enhance institutional-grade digital asset management and custody solutions.
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Meanwhile, Gemini has been busy distributing $2.18 billion in digital assets to 232,000 Gemini Earn users following Genesis's bankruptcy.
The figure represents a 242% return on assets locked up since January 2023. Those who loaned 1 Bitcoin (BTC) to Genesis will receive 1 BTC back, benefiting from BTC's recent price surge.
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