# Gemini

> Source: https://docs.barcoder.ai/docs/wallets/gemini
> research date 2026-05-30 · extracted at 2026-10-07
> Publisher: Barcoder — encyclopedia of QR, barcode and payment-code standards

Specifications:
- [Gemini — official](https://www.gemini.com/)

## Overview

**Gemini** is **the Winklevoss twins' US crypto exchange** + **post-Sep 12 2025 NASDAQ IPO public listing (GEMI ticker)** <sup>[1][1], [2][2], [United States report](https://docs.barcoder.ai/docs/payments/US)</sup>. **Sep 12 2025 NASDAQ IPO**: priced at $28/share + $425M raised + $3.3B pre-trading valuation + opened at $37.01 (+32% above IPO price) + closed +14.3% at $32; ~10,000 institutional clients globally per Gemini IPO prospectus; >$21B platform assets end-Jul 2025; **3rd US-listed crypto exchange after Coinbase + Bullish**; **May 2026 Winklevoss Capital Fund $100M capital injection** + Gemini shares surge.

**Distinctive Gemini positioning** <sup>[1][1], [2][2], [3][3], [4][4]</sup>:
- **Winklevoss twins' US crypto exchange** (Tyler + Cameron Winklevoss; Harvard alumni + Facebook IP dispute settlement + 2013 USD 11M Bitcoin investment) — distinctive Gemini Winklevoss founding heritage
- **Sep 12 2025 NASDAQ IPO**: priced at $28/share + $425M raised + $3.3B pre-trading valuation + +14.3% close at $32 — distinctive Gemini Nasdaq debut
- **3rd US-listed crypto exchange** after [Coinbase](https://docs.barcoder.ai/docs/wallets/coinbase) + Bullish — distinctive Gemini US-listed crypto exchange status
- **~10,000 institutional clients globally** per Gemini IPO prospectus
- **>$21B platform assets end-Jul 2025**
- **NYDFS-chartered limited purpose trust company + qualified custodian + NYDFS BitLicense** — distinctive Gemini US-regulated crypto exchange
- **Nasdaq invests $50M in Winklevoss twins' Gemini crypto exchange** Sep 2025 (pre-IPO) — distinctive Nasdaq-Gemini strategic investment
- **May 2026 Winklevoss Capital Fund $100M capital injection** + Gemini shares surge — distinctive Gemini founder additional capital injection

## History

**Oct 2014 — Gemini founded by Cameron + Tyler Winklevoss** in New York City.

**Oct 2015 — Gemini launches** as NYDFS-chartered limited purpose trust company + qualified custodian.

**2016 — Gemini receives NYDFS BitLicense**.

**2018 — Gemini Dollar (GUSD) launches** — distinctive Gemini NYDFS-regulated USD stablecoin.

**2019 — Gemini Custody launches** as Gemini institutional custody service.

**2021 — Gemini Earn launches** (subsequently subject to 2023 SEC settlement controversy + Jan 2023 Genesis Global Capital lending program halt).

**Sep 2025 — Nasdaq invests $50M in Winklevoss twins' Gemini crypto exchange (pre-IPO)** — distinctive Nasdaq-Gemini strategic investment.

**Sep 11 2025 — Gemini prices IPO at $28 per Class A share** ($425M raised; $3.3B pre-trading valuation).

**Sep 12 2025 — Gemini IPO debut on NASDAQ (GEMI ticker)**: opened at $37.01 (+32% above IPO price) + closed +14.3% at $32; 3rd US-listed crypto exchange after Coinbase + Bullish <sup>[1][1], [3][3], [4][4]</sup>.

**May 2026 — Winklevoss Capital Fund $100M capital injection** + Gemini shares surge <sup>[2][2]</sup>.

## Ownership & operator

**Operating entity**: **Gemini Space Station Inc.** (NASDAQ: GEMI; post-Sep 12 2025 NASDAQ IPO).

**Major shareholders**: **Cameron Winklevoss (co-founder + Co-President) + Tyler Winklevoss (co-founder + Co-CEO) + Winklevoss Capital Fund + Nasdaq Inc ($50M pre-IPO investment Sep 2025) + public float (post-Sep 12 2025 NASDAQ IPO)**.

**Regulators**: **NYDFS (BitLicense + limited purpose trust company charter) + SEC + FINRA + state-level + multi-jurisdiction (UK FCA + Ireland CBI + Australia AUSTRAC + Canada FINTRAC + Singapore MAS)**.

## Technical integration

Gemini mobile app (iOS + Android) + gemini.com web + Gemini API (REST + WebSocket + FIX) + Gemini ActiveTrader desktop + Gemini Custody + Gemini Wallet + Gemini Credit Card (Mastercard); **Gemini Dollar (GUSD)** distinctive Gemini NYDFS-regulated USD stablecoin + **Gemini Earn** (subject to 2023 SEC settlement controversy + Jan 2023 Genesis Global Capital lending program halt) + Gemini Marketplace (NFT; closed Aug 2023); ACH + SEPA + Faster Payments + SWIFT funding; **Gemini Custody** Gemini institutional custody service.

## Users & growth

**End-Jul 2025**: >$21B platform assets + ~10,000 institutional clients globally per Gemini IPO prospectus; **Sep 12 2025 NASDAQ IPO**: priced at $28/share + $425M raised + $3.3B pre-trading valuation + opened +32% above IPO price + closed +14.3% at $32.

## Use cases

US (+ UK + Ireland + Australia + Canada + Singapore + 60+ countries) retail + institutional crypto trading via Gemini mobile + web + ActiveTrader + API + Gemini Custody + Gemini Wallet + Gemini Credit Card (Mastercard); **Gemini Dollar (GUSD)** distinctive Gemini NYDFS-regulated USD stablecoin; **Gemini Custody** institutional custody service.

## Implementations & partners

**Operator**: Gemini Space Station Inc. (NASDAQ: GEMI; post-Sep 12 2025 NASDAQ IPO); Cameron + Tyler Winklevoss + Winklevoss Capital Fund + Nasdaq Inc + public float.

**Subsidiaries**: **Gemini Trust Company LLC (NYDFS-chartered limited purpose trust company + qualified custodian + NYDFS BitLicense)** + **Gemini Custody** + **Gemini Wallet** + **Gemini Credit Card (Mastercard partnership)** + **Gemini Dollar (GUSD)** + **Gemini Earn** + **Gemini Marketplace (NFT; closed Aug 2023)**.

**Major US + global crypto exchange competitors**: [Coinbase](https://docs.barcoder.ai/docs/wallets/coinbase) (US #1; NASDAQ: COIN; post-Apr 2021 direct listing; $300B+ AUC) + [Kraken](https://docs.barcoder.ai/docs/wallets/kraken) (US #2; private; Mar 2023 SEC Staking-as-a-Service settlement) + [Binance](https://docs.barcoder.ai/docs/wallets/binance) (global #1 by volume; CZ-founded; 2023 US DOJ $4.3B settlement) + [OKX Wallet](https://docs.barcoder.ai/docs/wallets/okx-wallet) (global top-5; Star Xu-founded) + [Bybit](https://docs.barcoder.ai/docs/wallets/bybit) (global top-5; Ben Zhou-founded; Dubai HQ; 2025 $1.5B hack survival) + [Bitget](https://docs.barcoder.ai/docs/wallets/bitget) (top-4 derivatives) + [KuCoin](https://docs.barcoder.ai/docs/wallets/kucoin) (global top-5; 2025 DOJ $297M settlement + 2026 CFTC permanent US exit) + [MEXC](https://docs.barcoder.ai/docs/wallets/mexc) (#3 global CEX by spot volume Dec 2025) + [HTX (formerly Huobi)](https://docs.barcoder.ai/docs/wallets/htx) (formerly Huobi; Sep 2023 Justin Sun rebrand) + Bullish (post-2025 IPO; US-listed crypto exchange).

**Regulators**: NYDFS (BitLicense + Trust Charter) + SEC + FINRA + state-level + multi-jurisdiction.

## Fun facts

- **Winklevoss twins' US crypto exchange** (Tyler + Cameron Winklevoss; Harvard alumni + Facebook IP dispute settlement + 2013 USD 11M Bitcoin investment).
- **Sep 12 2025 NASDAQ IPO**: priced at $28/share + $425M raised + $3.3B pre-trading valuation + +14.3% close at $32.
- **3rd US-listed crypto exchange** after [Coinbase](https://docs.barcoder.ai/docs/wallets/coinbase) + Bullish.
- **~10,000 institutional clients globally** per Gemini IPO prospectus.
- **>$21B platform assets end-Jul 2025**.
- **NYDFS-chartered limited purpose trust company + qualified custodian + NYDFS BitLicense** — distinctive Gemini US-regulated crypto exchange.
- **Nasdaq invests $50M in Winklevoss twins' Gemini crypto exchange** Sep 2025 (pre-IPO) — distinctive Nasdaq-Gemini strategic investment.
- **May 2026 Winklevoss Capital Fund $100M capital injection** + Gemini shares surge.
- **2018 Gemini Dollar (GUSD) launches** — distinctive Gemini NYDFS-regulated USD stablecoin.

## Comparison

| Feature | Gemini | [Coinbase](https://docs.barcoder.ai/docs/wallets/coinbase) (US #1; NASDAQ: COIN rival) | [Kraken](https://docs.barcoder.ai/docs/wallets/kraken) (US #2; private rival; Mar 2023 SEC Staking-as-a-Service settlement) | [Binance](https://docs.barcoder.ai/docs/wallets/binance) (global #1 by volume + 2023 DOJ $4.3B settlement rival) | Bullish (post-2025 IPO; US-listed crypto exchange rival) |
|---|---|---|---|---|---|
| Operator | **Gemini Space Station Inc. (NASDAQ: GEMI; post-Sep 12 2025 NASDAQ IPO)** | Coinbase Global Inc. (NASDAQ: COIN; post-Apr 14 2021 direct listing) | Payward Inc. (private; HQ San Francisco) | Binance Holdings Ltd (Cayman Islands) | Bullish Group (post-2025 IPO) |
| Type | **Winklevoss twins' US crypto exchange + Sep 12 2025 NASDAQ IPO at $3.3B + 3rd US-listed crypto exchange after Coinbase + Bullish + ~10,000 institutional clients + Gemini Dollar (GUSD) NYDFS-regulated USD stablecoin** | US #1 + NASDAQ: COIN + post-Apr 14 2021 direct listing + Coinbase Wallet + Base L2 + $300B+ AUC | US #2 + private + Kraken Pro + Kraken Custody + Mar 2023 SEC Staking-as-a-Service $30M settlement | Global #1 by volume + 250M+ users + Binance Smart Chain (BNB Chain) | 2025 IPO US-listed crypto exchange |
| Country | US + 60+ countries | US + 100+ countries | US + 190+ countries | Cayman Islands + global (ex-US) | US + global |
| Distinctive | **Oct 2014 founding by Cameron + Tyler Winklevoss (Harvard + Facebook IP + 2013 USD 11M Bitcoin investment); Oct 2015 launch as NYDFS-chartered limited purpose trust company; 2016 NYDFS BitLicense; 2018 Gemini Dollar (GUSD) launch (NYDFS-regulated USD stablecoin); Sep 2025 Nasdaq $50M pre-IPO investment; Sep 12 2025 NASDAQ IPO at $3.3B valuation + +14.3% close; May 2026 Winklevoss Capital Fund $100M capital injection** | 2012 founding by Brian Armstrong + Fred Ehrsam; Apr 14 2021 NASDAQ direct listing; Coinbase Wallet + Base L2 | 2011 founding by Jesse Powell; Mar 2023 SEC Staking-as-a-Service $30M settlement | 2017 founding by CZ; 2023 US DOJ $4.3B settlement + CZ 4-month US prison + permanent CEO ban | 2021 founding as institutional crypto exchange; 2025 IPO |

## Status

**Active, Winklevoss twins' US crypto exchange + post-Sep 12 2025 NASDAQ IPO public listing** <sup>[1][1], [2][2], [3][3], [4][4]</sup>:
- **Gemini Space Station Inc. (NASDAQ: GEMI; post-Sep 12 2025 NASDAQ IPO)** since Oct 2014 founding by Cameron + Tyler Winklevoss + Oct 2015 launch as NYDFS-chartered limited purpose trust company.
- **>$21B platform assets end-Jul 2025 + ~10,000 institutional clients**.
- **Sep 12 2025 NASDAQ IPO at $3.3B valuation + May 2026 Winklevoss Capital Fund $100M capital injection**.
- **Gemini Dollar (GUSD) NYDFS-regulated USD stablecoin** (2018 launch).
- **NYDFS + SEC + FINRA + state-level + multi-jurisdiction regulated**.

## Sources

[1]: https://www.cnbc.com/2025/09/12/gemini-the-winklevoss-crypto-exchange-pops-in-nasdaq-debut.html "Gemini, the Winklevoss' crypto exchange, pops more than 14% in Nasdaq debut — CNBC"
[2]: https://www.cnbc.com/2026/05/14/gemini-surges-after-winklevoss-capital-invests-100-million-in-the-crypto-exchange.html "Gemini surges after Winklevoss Capital Fund invests $100 million in the crypto exchange — CNBC"
[3]: https://www.cnbc.com/2025/09/11/winklevoss-founded-crypto-exchange-gemini-prices-ipo.html "Winklevoss-founded Gemini prices IPO at $28 per share, valuing the crypto exchange at $3.3 billion — CNBC"
[4]: https://www.coindesk.com/markets/2025/09/09/nasdaq-to-invest-usd50-million-in-winklevoss-twins-gemini-crypto-exchange-reuters "Nasdaq Partnering With Gemini, With IPO Expected on Friday — CoinDesk"
[us-cro]: https://docs.barcoder.ai/docs/payments/US

- [1] [Gemini, the Winklevoss' crypto exchange, pops more than 14% in Nasdaq debut — CNBC][1]
- [2] [Gemini surges after Winklevoss Capital Fund invests $100 million in the crypto exchange — CNBC][2]
- [3] [Winklevoss-founded Gemini prices IPO at $28 per share, valuing the crypto exchange at $3.3 billion — CNBC][3]
- [4] [Nasdaq Partnering With Gemini, With IPO Expected on Friday — CoinDesk][4]
- <sup>[United States report](https://docs.barcoder.ai/docs/payments/US)</sup> In-corpus: `reports/countries/US-united-states.md`

## Source

Biography extracted from [gemini.md](https://docs.barcoder.ai/source/wallets/gemini). See `matrix.md` for standards-support matrix if present.