June 6, 2018 12:03 PM EDT
Fresh YORK &mdash, Gemini Trust Co, the U.S.-based bitcoin exchange founded by investors Tyler and Cameron Winklevoss, has opened trading ter Canada, marking the commence of an international expansion program.
Te an vraaggesprek late on Friday, Gemini Chief Executive Officer Tyler Winklevoss said Canadian citizens would only be able to trade bitcoin and ether on the exchange for now.
Trading bitcoin and ether against fiat currencies such spil the dollar will take a few weeks, Winklevoss said, adding that no regulatory approval wasgoed needed to operate ter Canada.
Winklevoss said Gemini would open another international location overheen the next two weeks.
Digital currencies have gained popularity among investors spil major financial institutions such spil Goldman Sachs Group Inc and entero technology companies such spil International Business Machines Corp attempt to unlock the potential uses and applications of thesis assets&rsquo, underlying technology, the blockchain.
The blockchain is a database that enables a network of computers to validate, clear, lodge, track, and record the ownership of assets spil they are traded.
Ether, an alternative currency that differs from bitcoin, is a token or digital asset of the Ethereum toneelpodium, a public blockchain.
&ldquo,Wij determined to open very first with the bitcoin and ether order book,&rdquo, said Winklevoss. &ldquo,Wij think there&rsquo,s good request for that, there are a loterijlot of people who own bitcoin, and they don&rsquo,t have a safe place to store them.&rdquo,
Related movie: (TUTORIAL) How to use Gemini Exchange to buy Bitcoin and Ethereum
He added that most bitcoin and ether investors were trading on unregulated and unlicensed exchanges.
Gemini last month became the very first and so far only exchange that Fresh York state permits to trade ether, Winklevoss said.
Volume on Gemini since ether began trading on the exchange has grown steadily, he said.
&ldquo,Overheen the last 30 days, wij have traded approximately $30 million te notional value of both bitcoin and ether.&rdquo,
Bitcoin on Monday traded at US$582.79 on the Bitstamp podium, with a market capitalization of US$9.1 billion, according to crypto-currency gegevens webstek coinmarketcap.com.
Ether, the second-largest digital currency behind bitcoin, last switched mitts at $13.92 and had a market capitalization of about US$1.1 billion.