Paisley fintech inks cryptocurrency tie-up

A Paisley-based provider of cloud computing and connectivity to financial markets has revealed its entry into the cryptocurrency market via an exchange owned by internet entrepreneurs and Bitcoin billionaires the Winklevoss twins.

Beeks Financial Cloud Group, which launched on Aim at the end of last year, is teaming up with Gemini Trust Company, a next-generation digital asset exchange and custodian aimed at both individuals and institutions. And the Scottish company, which has nine data centres globally, said the new collaboration enables it to provide direct connectivity to Gemini via the Beeks Cloud, allowing its customers who are existing clients of Gemini to source and trade Bitcoin and Ethereum legitimately and securely.

The launch is part of the ongoing expansion of the Beeks offering, which now covers the forex, futures, fixed-income and cryptocurrency markets.

Gordon Mcarthur, chief executive of Beeks, said the tie-up comes as its clients have been seeking a means of trading 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,” he said.

“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.”

Beeks was founded in 2011 and raised £7 million through its IPO in November, with the sum helping speed up growth. 0 Growth ambitions: Beeks chief Gordon Mcarthur