Crypto exchange Gemini has launched a self-custody wallet and an onchain trading portal as its centralized exchange volumes remain comparatively low. The move comes after the company confidentially filed for an initial public offering in June. The Gemini Wallet features passkey-based onboarding, removing the need for recovery phrases. It is designed to work both as an embedded wallet integrated into decentralized applications and as a portable wallet, giving users flexibility to manage assets across platforms.
“By leveraging the security and convenience of passkeys, we believe smart wallets are the key to onboarding the next one billion people onchain,” Gemini said. Passkeys are a secure login method that replace passwords with cryptographic keys stored on a device, allowing sign-in via fingerprint, face scan, or device PIN. Gemini has also launched the Gemini Onchain Dashboard, a web interface for trading tokens, accessing decentralized applications, and investing stablecoins or crypto tokens in yield-generating vaults where permitted.
The wallet integrates with major platforms via WalletConnect, supports cross-chain swaps through Bungee, and offers yield opportunities via Morpho’s curated Gauntlet vaults on Arbitrum. Security partner Blockaid provides fraud and scam protection. To encourage adoption, Gemini is covering gas fees for initial users, offering free Ethereum Name Service (ENS) subdomain names, and partnering with networks including Arbitrum, Polygon, Optimism, and Base.
Gemini plans to expand the wallet’s capabilities later this year to enable direct connection to exchange accounts, creating a fully integrated custody and trading experience. Founded in 2014 by billionaire twins Cameron and Tyler Winklevoss, Gemini is one of the better-known centralized crypto exchanges but its trading volumes remain lower than rivals such as Coinbase and Binance, according to The Block’s data dashboard.
