Cryptocurrency platform Gemini has raised $400 million in a growth equity funding round led by Morgan Creek Digital and participated by 10T, the Commonwealth Bank of Australia, Marcy Venture Partners, Newflow Partners, ParaFi, and more. Now, the company is valued at $7.1 billion.
Gemini has seen significant growth and product innovation throughout the year of 2021. Within the same year, the company has acquired Blockrize to launch the Gemini Credit Card, as well as ShardX to enhance its crypto listing and custodial services. They also launched a platform named Gemini Earn, which enables users to lend their crypto and earn up to 8.05% APY.
Moreover, its NFT marketplace Nifty Gateway has experienced a record growth this year, gaining over $420 million in sales via 375 unique artist collaborations since launch. This outstanding performance has cemented its position as the leading platform in the NFT space.
The company has expanded its operations to wider territories in 2021. The platform entered the UK market as one of the few authorised crypto asset companies, in addition to receiving its EMI license from the Financial conduct Authority. It has also filed for license with the Monetary Authority of Singapore in order to expand into the Asia Pacific region.
In 2021 we diversified our revenue stream, expanded to new territories, acquired pioneering companies, and invested in industry-redefining innovations through the Gemini Frontier Fund. We also supported Bitcoin core development through the Gemini Opportunity Fund.
Cameron Winklevoss, Co-Founder and President of Gemini
The platform is co-founded by the Winklevoss twins, who are early adopters of Bitcoin and have gained their first public fame when they challenged Mark Zuckerberg over the Facebook inventor title.
