Winklevoss-backed crypto platform Gemini has more than doubled the assets it stores so far this year

Winklevoss-backed crypto platform Gemini has more than doubled the assets it stores so far this year

The crypto platform Gemini, which was founded by the Winklevoss twins, has more than doubled the crypto assets under its custody so far this year. It now oversees assets worth over $25 billion.

"Tracking with the impressive growth of the crypto market this year and increased participation from institutional investors, we have more than doubled our crypto under custody since the beginning of 2021," Gemini said in a statement on Tuesday.

Gemini's institutional clients include asset managers, hedge funds, trading firms and corporate treasuries according to the statement.

Tyler and Cameron Winklevoss, who funded Gemini in 2014, have been avid proponents of cryptocurrencies for years. Through Winklevoss Capital Management, they also provide seed funding and other support to early-stage startups.

Last month, the company launched Gemini Fund Solutions, which aims to support fund managers with digital asset based funds including crypto ETFs. It helped launch the first bitcoin and ether ETFs in North America.

The platform offers various services and products, such as crypto trading, asset storage in wallets, a dollar-backed stablecoin called Gemini with the option to use it in retail stores and custodianship.

Through Gemini Custody, the platform is able to take custody over a wide variety of digital currencies for clients, effectively providing