Gemini Partners with Nasdaq in $50 Million Strategic Investment Ahead of IPO
New York, September 10, 2025: Gemini, the cryptocurrency exchange founded by the Winklevoss twins Cameron and Tyler, has secured a strategic investment from Nasdaq, marking a significant development as Gemini prepares for its initial public offering (IPO). Nasdaq is reported to invest $50 million in Gemini through a private placement coinciding with the exchange’s upcoming Nasdaq debut under the ticker symbol GEMI.
This investment signals a closer collaboration between the traditional financial market infrastructure player and a leading crypto exchange, highlighting Nasdaq’s commitment to expanding its services into digital asset markets.
Details of the Investment and Partnership
The $50 million Nasdaq investment will be executed at Gemini’s IPO price, adjusted for underwriting discounts and commissions, according to a recent Securities and Exchange Commission (SEC) filing by Gemini. Beyond the capital infusion, both companies plan a multifaceted partnership centering on crypto custody, staking services, and institutional asset management.
Under the agreement, Gemini will offer its custody and staking services to Nasdaq’s clients on a nonexclusive basis. Concurrently, Gemini’s institutional customers will gain access to Nasdaq’s Calypso platform, which provides collateral management solutions spanning both traditional and digital assets.
This integrated approach aims to bridge the gap between traditional securities markets and the fast-growing crypto economy, potentially improving institutional adoption and operational efficiencies in digital asset trading and management.
Gemini’s IPO: The Third U.S.-Listed Crypto Exchange
The planned Nasdaq listing would position Gemini as the third cryptocurrency exchange to go public on a U.S. exchange, following Coinbase and Bullish. Coinbase notably joined the S&P 500 earlier this year, underscoring increased institutional acceptance of crypto platforms.
Gemini’s IPO is scheduled for a prospective Nasdaq debut this Friday, though the timeline remains conditional on prevailing market conditions. The offering comes during a resurgence in U.S. equity capital markets, with strong first-day performances by companies such as Figma encouraging more private firms to explore public markets.
Market Context and Strategies
Nasdaq’s strategic investment and partnership with Gemini represent a broader industry trend where traditional financial infrastructure providers are embedding crypto capabilities into their services to serve institutional clients better amid evolving regulations.
A Nasdaq spokesperson noted that this collaboration aligns with Nasdaq’s strategy to maintain an open-ecosystem approach and expand multi-custodial and staking services. They emphasized that the partnership with Gemini is part of Nasdaq’s preparation for future market developments in crypto assets.
Gemini’s growing role in offering both custody and staking delivers institutional-grade solutions and broadens the scope of traditional and digital asset operations, while Nasdaq’s Calypso platform complements these services with advanced collateral management features.
Implications for Crypto and Institutional Investors
This strategic alliance between Gemini and Nasdaq underscores the maturation of the crypto market and its increasing intersections with established financial institutions. By collaborating, these entities aim to address institutional investors’ demand for secure custody, efficient collateral management, and regulatory compliance.
Moreover, Gemini’s IPO would provide increased transparency and regulatory oversight, likely strengthening investor confidence in crypto market infrastructure.
Overall, Nasdaq’s $50 million investment and partnership with Gemini mark a notable milestone reflecting the evolving landscape of crypto finance and the integration of digital assets into mainstream capital markets.