The
Winklevoss twins want to
make Bitcoin more mainstream with daily auctions
Gemini Trust Co., the U.S.-based digital-currency exchange founded by entrepreneurs Cameron and Tyler Winklevoss, is introducing a
daily Bitcoin auction to facilitate price discovery and larger trades at lower costs.
The auctions, to be held at 4 p.m. New York time every day including holidays and weekends, at first will support just bitcoin-to-U.S. dollar trading, and will eventually expand to
more currencies. Auction trades will be eligible for as much as a 0.15 percent rebate on trading fees, Gemini said.
By adding
daily auctions starting Wednesday, Gemini is bringing to
Bitcoin a feature that’s long been available on exchanges such as the New York Stock Exchange, Nasdaq and Bats Global Markets for other asset classes.*
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