Additionally on Tuesday, the New York State Department of Financial Services announced it has approved the application of Coinbase Custody Trust Company, a wholly-owned subsidiary of Coinbase, to operate as a limited purpose trust company
The Reliance Trust Company of Delaware is a Wilmington, DE based limited purpose trust company
with more than USD 7bn in assets under administration.
As a limited purpose trust company
chartered under New York State Banking Law, Gemini can launch Ether trading immediately, subject to ongoing supervision by the state.
Lindley currently serves as president of The Northern Trust Company of Delaware, a limited purpose trust company
in Wilmington, Del, a position he has held since 2005.