The Winklevoss twins are desperate to take the crypto world by storm – much the way Zuckerberg took the internet by storm. In a bid to do so, the crypto billionaires created their own crypto exchange and have applied for a vast number of crypto-related patents. The twins have had a tough time of things over in America, with the SEC declining their application for a Bitcoin ETF twice.
It appears as if the twins are looking across the pond for a way to take the crypto markets to a new level. The twins are rumored to have hired advisors to start investigating other jurisdictions outside America that it could begin operating in with an appropriate license.
Coinbase Adding GBP Trading Pairs
Recently, Coinbase added support for GBP trading and a number of GBP trading pairs on its crypto exchange. It is one of the most popular crypto exchanges globally and is ranked 30th for daily trade volumes, while Gemini – the crypto exchange owned by the Winklevoss twins – sits in 70th place according to data from CoinMarketCap.
Coinbase’s entry into the British markets is a sign that there is significant crypto trading demand in the country. This could be one of the reasons behind Gemini’s interest in gaining regulation in the UK.
Patents and Progress
The Twins have learned their lesson from the Facebook debacle, as they are now patenting every aspect of their crypto trading platform. They recently secured their seventh crypto-related patent and have a handful more applications being assessed.
In addition to securing a myriad of patents for their exchange, the twins have also managed to launch one of the first regulated USD stablecoins. Their new stablecoin – dubbed the Gemini Dollar – will be used on their crypto exchange to help investors hedge in times of crypto recession.
Winkle Wallet in the Works?
Not satisfied with having one of the first regulated stablecoins, the twins are looking to conquer the wallet market as well. In a new patent application, they’ve outlined the technical workings for what appears to be a custodial service and potentially a crypto wallet. While neither Gemini or the twins have yet to confirm or deny the claims, who doesn’t like the idea of a Winkle Wallet. The patent application is fairly detailed, so it looks like it will be a very strong and secure custodial service or crypto wallet.
The Winklevoss twins are attempting to dominate the crypto world. If they manage to enter the UK market with their Gemini exchange they could very well achieve that goal. It is likely going to be a few more months before we hear any official word on the matter, but when news breaks it could very well shake up the crypto sphere.
