New York’s cryptocurrency exchange Gemini has announced the acquisition of wealth management solutions provider BITRIA.
Founded in 2014, Gemini has built up its $7.1B value with its crypto exchange, highly-secure digital asset wallet, and mobile payment options. With BITRIA under its wing, the company is set to build wealth management support for advisors and their crypto holdings.
Based on the report by CNBC, Gemini has not disclosed any numbers for the acquisition of the wealth management platform.
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Gemini’s Global Head of Business Development Dave Abner said that BITRIA’s platform, combined with crypto expertise from Gemini, will allow advisors to "manage all of their clients’ digital assets within their traditional portfolio management systems."
Abner told reporters that the acquisition of BITRIA currently makes it the only digital asset company working in wealth management. He was quite confident in the joint forces of his crypto platform and BITRIA’s digital asset support for advisors:
"We’re already the largest service provider to crypto ETFs globally. Now we are moving into the wealth space, and we’re going to be the only pure-play full service provider of crypto assets."
Following their partnership earlier in 2020, the personnel of BITRIA (previously known as Blockchange) will be working under Gemini's flag, including the wealth management platform’s CEO Daniel Eyre.
