Nasdaq Backs Winklevoss Twins’ Gemini with $50M Investment Ahead of IPO
Gemini, the cryptocurrency exchange founded by Cameron and Tyler Winklevoss, has secured a major boost from Nasdaq just days before its highly anticipated initial public offering.
The global stock exchange operator is investing $50 million in Gemini as part of a strategic partnership that will enable Nasdaq to integrate the exchange’s custodial services for its institutional clients. In addition, Gemini will act as a distribution partner for Nasdaq’s trade management system, Calypso, expanding its reach across both digital and traditional markets.
This investment, separate from Gemini’s upcoming IPO, comes as the company prepares to raise up to $317 million in its public debut on Nasdaq this Friday.
According to a Nasdaq spokesperson, the collaboration underscores the firm’s commitment to building future-ready infrastructure in a rapidly evolving crypto regulatory landscape. The partnership will support multi-custodial and staking services for digital assets while expanding the functionality of Calypso to meet demand from firms seeking advanced collateral management solutions.
The investment falls under Nasdaq Ventures, aligning with the company’s broader strategy of supporting fintech and digital asset innovation.
Meanwhile, Nasdaq recently filed a proposal with the U.S. Securities and Exchange Commission (SEC) requesting a rule change that would allow the trading of tokenized stocks and exchange-traded products. If approved, this could position Nasdaq as the first major traditional exchange to offer tokenized securities trading, a trend gaining momentum in global financial markets.
Tokenization involves creating blockchain-based digital representations of real-world assets, such as securities or commodities, allowing investors to gain exposure without direct ownership.
Founded in 2014, Gemini has grown into one of the leading crypto exchanges, with more than $21 billion in assets under custody as of July.
