Milestone for cloud firm
Beeks partners New York bitcoin billionaires
Gordon McArthur: ‘a service our institutional clients have been wanting for some time’
Beeks Financial Cloud Group, the Scotland-based cloud computing business, has entered the cryptocurrency market through a collaboration with New York based Gemini Trust.
Gemini is a next-generation digital asset exchange and custodian built for both individuals and institutions run by the Winklevoss Twins – the internet entrepreneurs and bitcoin billionaires.
As a trust company regulated by the New York State Department of Financial Services, it 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.
The Beeks Cloud has nine data centres globally, providing low-latency infrastructure and connectivity for institutional capital markets.
Via this new collaboration, Renfrewshire-based 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, said: “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.”