Crypto Exchange Gemini has reportedly secured American inventory alternate Nasdaq as a strategic companion with a $50 million funding forward of its Initial Public Offering (IPO) this week.
Nasdaq To Back Gemini With Strategic Investment
On Tuesday, Reuters reported that Nasdaq is ready to take a position $50 million within the Winklevoss twins’ Gemini Space Station Inc. in a personal placement in the course of the crypto alternate’s IPO, scheduled for September 12, 2025.
The crypto alternate just lately introduced its plan to supply 16.7 million shares priced between $17 and $19 beneath the ticker identify “GEMI,” with a possible increase of roughly $317 million.
According to nameless sources near the matter, the strategic partnership will give Nasdaq’s shoppers entry to Gemini’s custody and staking providers. Meanwhile, the crypto alternate’s institutional shoppers can have entry to the inventory alternate’s Calypso platform for collateral administration and monitoring buying and selling exercise.
The partnership is reportedly non-exclusive, and the corporate’s plans “are topic to market situations and will change,” Reuters sources cautioned.
According to the S-1 submitting reviewed by Bloomberg, Gemini stated it had entered into an settlement with Nasdaq for the acquisition of its Class A standard inventory. The deal will shut instantly after its providing and was “agreed at a per-share worth equal to Gemini’s IPO worth much less underwriting reductions and commissions,” however can be topic to sure closing situations.
“We proceed to develop our capabilities to serve our institutional shoppers and the broader investor universe because the regulatory panorama round crypto belongings evolves,” a Nasdaq spokesperson advised the information media outlet.
Nasdaq’s Push For Tokenization
The partnership with Gemini follows the American inventory alternate’s push for tokenized securities. As reported by Bitcoinist, Nasdaq just lately submitted a submitting to the US Securities and Exchange Commission (SEC) to allow the buying and selling of tokenized variations of conventional shares on its platform.
Nasdaq President Tal Cohen highlighted the potential of integrating tokenization and blockchain expertise with conventional market infrastructure, affirming that the fusion may provide vital benefits to each issuers and buyers.
Similarly, Kraken met with the SEC’s Crypto Task Force final month to debate the tokenization of conventional belongings, the opportunity of a tokenized buying and selling system within the US, the regulation of crypto belongings, and the authorized and regulatory framework for working stated system.
Amid the trade’s momentum and favorable regulatory modifications within the US, Coinbase has reportedly sought the SEC’s approval to supply tokenized shares to its clients. Notably, the rising sector is a “enormous precedence” for the alternate, Coinbase’s CLO Paul Grewal advised Reuters in June.
Nonetheless, some conventional gamers have shared their doubts concerning the sector. Recently, the World Federation of Exchanges (WFE) referred to as on securities regulators to crack down on tokenized equities, claiming that the blockchain-based tokens “create new dangers for buyers and will hurt market integrity.”
In a letter despatched to a number of world regulators, the coalition expressed its considerations that these tokens “mimic” shares with out offering the identical rights or buying and selling safeguards. They additionally urged the watchdogs to use securities guidelines to tokenized belongings, make clear authorized frameworks for possession and custody, and stop the tokens from being marketed as equal to shares.
Bitcoin (BTC) trades at $112,361 within the one-week chart. Source: BTCUSDT on TradingView
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