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The Winklevoss twins’ cryptocurrency exchange, Gemini, is partnering up with the Silvergate Exchange Network (SEN,) Silvergate, to establish faster fiat transfer speeds.
This news comes to us via a blog post, where one Joshua Rawlins explains a little more about the scenario:
“Today, we are excited to announce that we have joined the Silvergate Exchange Network (SEN). SEN allows our institutional customers to deposit and withdraw U.S. dollars to and from their Gemini account in real-time; 24 hours a day, 7 days a week, and 365 days a year. While our industry is accustomed to cryptocurrencies operating 24/7/365 (like email), fiat currencies have for the most part remained shackled to “banking hours” or “business hours.” SEN is an important step toward changing this.”
As of now, the trading platform is “fully integrated” into the API of SEN. This insures for instantaneous transfers within the network. And, any institutional investor that puts money into the platform can now do so within waiting.
The post ends by inviting anyone interested to participate in the SEN platform.