Launch of Crypto Offering with Gemini Connectivity

RNS Number : 3468I

Beeks Financial Cloud Group PLC

21 March 2018

 

Beeks Financial Cloud Group plc

("Beeks" or the "Company")

Beeks Financial Cloud Launches Crypto Connect Offering with Gemini Connectivity

Glasgow, March 21, 2018 -- Beeks Financial Cloud Group Plc, a cloud computing and connectivity provider for financial markets, is pleased to announce entry into the cryptocurrency market via a collaboration with Gemini Trust Company, LLC ("Gemini"), a next-generation digital asset exchange and custodian.

Gemini is a licensed digital asset exchange and custodian built for both individuals and institutions. As a New York trust company regulated by the New York State Department of Financial Services (NYSDFS), Gemini is a fiduciary and is therefore subject to the capital reserve requirements, cybersecurity requirements, and banking compliance standards set forth by the NYSDFS and the New York Banking Law (NYBL).

The Beeks Cloud has nine data centres globally, providing low-latency infrastructure and connectivity for institutional capital markets. Via this new collaboration, Beeks can provide direct connectivity to Gemini via the Beeks Cloud, allowing Beeks' clients who are existing clients of Gemini to source and trade Bitcoin and Ethereum legitimately and securely.

Bitcoin and Ethereum are currently the two largest digital currencies in the world. Both Ethereum and Bitcoin are decentralised payment networks, with their own cryptographic currency, that allow anonymous payments to be sent across the internet without the need for a bank or other third party. Coded transactions are stored in a decentralised ledger, the blockchain, and are visible for everyone on the network to see.

The direct connection will be available as part of a Beeks Crypto Connect package via the Beeks Marketplace, including a dedicated server and cross-connect within the NY4 datacentre.

The launch is part of the on-going expansion of the Beeks offering, which now covers the Forex, Futures, Fixed income and Cryptocurrency markets.

Gordon McArthur, CEO of Beeks Financial Cloud, commented, "Cryptocurrency trading is growing in popularity and this is a service our institutional clients have been wanting for some time, as they seek a means to trade cryptocurrencies legitimately and securely. The high level of regulation on the Gemini Exchange provides our customers with an assurance of greater security in a volatile market. In a highly significant industry, this new service has the potential to be a valuable move for Beeks as we seek to expand our offering across the key markets for automated trading."

For further information please contact:

Gemini Trust Company	[e-mail]
Beeks Financial Cloud Group plc
Gordon McArthur, CEO	via Alma PR
Simon Goulding, CFO
Cenkos Securities plc	[phone]
Derrick Lee / Beth McKiernan
Alma PR	[phone]
Caroline Forde / Josh Royston / Helena Bogle

ABOUT GEMINI

Gemini Trust Company, LLC ("Gemini") is a next generation digital asset exchange and custodian that allows customers to buy, sell, and store digital assets such as bitcoin and ether. Gemini is a New York trust company that is held to the highest level of fiduciary obligations, capital reserve requirements, and banking compliance standards. Gemini was founded in 2014, by brothers Cameron and Tyler Winklevoss, to build a bridge to the future of money. For more information, visit Gemini.com.

ABOUT BEEKS FINANCIAL CLOUD

Beeks Financial Cloud is a UK-based low-latency service provider for automated (also known as algorithmic) trading in Forex and Futures financial products. With nine data centres globally and low-latency connectivity between sites, Beeks Financial Cloud focuses on reducing barriers to entry and time to market for institutional clients trading forex/futures. For more information, visit: www.beeksfinancialcloud.com.

 

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