Cryptocurrency exchange Gemini is partnering with Australian equities manager Holon Investment to provide custody for their Filecoin fund.
According to the blog, Gemini regulated custody services will manage and store the Holon Wholesale Filecoin Fund.
The fund seeks to raise A$25 million over three months, promising a 100% FIL over five years based on a 0% management fee. FIL is the native token of the Filecoin Network, a decentralized data-sharing platform. The custody and execution services provided to Holon’s Filecoin Fund are under Gemini Fund Solutions.
To create returns, the Filecoin fund will buy FIL and lend it out to Holon Global innovations, a subsidiary of Holon Global Investments. In return, Holon Global will pay Filecoin Fund 1 FIL for each borrowed FIL over the five years period.
To generate returns, the Filecoin Fund will purchase FIL and then it will lend the token to a Holon subsidiary. Holon Global Innovations is a subsidiary entirely under Holon Global Investment. Our partnership with Holon Global boosts Gemini’s global reach to the Australian market.
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Since last month, Gemini has been moving to expand in Southeast Asia to take advantage of growth opportunities there.
Gemini also offers crypto services and infrastructure to growing various asset managers and traditional financial institutions worldwide. Gemini is a fiduciary and qualified Custodian under New York Banking Law. It is licensed by the New York State Department of Financial Services to custody digital assets.
