Cryptocurrency exchange Gemini announces purchase of custodian startup Shard X – Bits Media

American cryptocurrency exchange Gemini, owned by the Winklevoss brothers, announced the acquisition of custodian startup Shard X. The amount of the transaction has not yet been disclosed.

The Gemini press release highlights, that multilateral computing technology, being developed Shard X, will help the exchange increase the rate of exchange of user funds and their use. Operational Director of the NOA Perlman Exchange (Noah Perlman) noted:

“The integration of the Shard X technology into the castodial services of Gemini will allow us to meet modern requirements for the speed of output of client means. It will also allow you to work with stakeing in the field of decentralized financing and will make transfers of digital assets more effective ”.

Multilateral calculations allow you to make a cryptographic signature more reliable and fast. The closed key is never going completely, which allows you to get rid of a single refusal point. It is divided into parts and distributed between several holders. According to the leadership of Shard X, The company's technology allows you to combine the safety of "cold" wallets with the convenience of "hot".

Founders of the startup Shard X, launched in London in 2018 year, join the British affiliated gemini team. Recall, that at the end of April, the Gemini exchange launched a MasterCard credit card with the possibility of receiving cashback in cryptocurrencies.