Gemini to add trading support for BAT

Winklevoss-owned crypto exchange Gemini has announced it will add support for Brave browser’s BAT token starting on Apr. 24. Upon its listing, BAT will be tradable against the dollar (USD), BTC, and ETH. BAT will become just the sixth digital asset accepted onto Gemini’s platform (not including Gemini’s stablecoin GUSD), joining BTC, ETH, BCH, LTC, and ZEC.

Why it matters:

• Gemini is known for being selective about the assets it chooses to list, which could stem from its penchant for regulatory compliance (who can forget its “The Revolution Needs Rules” marketing campaign). But the choice to add BAT is not entirely surprising as the token is already one of 18 assets supported by Gemini’s custody platform for institutional investors.
• Gemini possibly turned to BAT as its next asset to tap into Brave’s recent success and growing user base. According to a post from Brave CEO Brendan Each, the browser added over one million new users last month and now sports 13.5 monthly active users and 4.3 million daily active users.