Beeks enters cryptocurrency market with billionaire Winklevoss twins

Cloud computing and connectivity provider Beeks Financial Cloud has agreed to enter the cryptocurrency market through collaboration with Gemini Trust Company, a cryptocurrency exchange owned by bitcoin billionaires Cameron and Tyler Winklevoss.

The collaboration with Gemini will see Beeks, which raised £7m in its AIM flotation in November, provide low-latency infrastructure and connectivity to the exchange through the Beeks Cloud.

This will allow Beeks clients who are existing clients of Gemini to legitimately and securely source and trade bitcoin and ethereum cryptocurrencies.

Gordon McArthur, chief executive of Beeks Financial Cloud, said: “Cryptocurrency trading is growing in popularity and this is a service our institutional clients have been wanting for some time, as they seek a means to trade cryptocurrencies legitimately and securely. The high level of regulation on the Gemini Exchange provides our customers with an assurance of greater security in a volatile market.”

Bitcoin and ethereum are two of the largest digital currencies in the world. Cryptocurrencies, while still decried by some as no more than cockamamie-cigar-smoke, are designed to allow anonymous payments to be sent across the internet without the need for facilitation by a bank or other third party.

“In a highly significant industry, this new service has the potential to be a valuable move for Beeks as we seek to expand our offering across the key markets for automated trading,” said McArthur.

The launch of the direct connection, available as part of the company’s crypto connect package via the Beeks marketplace, is part of Beeks’ ongoing expansion of its offering which now covers forex, futures, fixed income and cryptocurrency markets.

As of 1003 GMT, Beeks Financial Cloud’s shares were up 2.52% at 61p.