Winklevoss Twins Score Another Patent On Crypto Trading Products

The Winklevoss twins, two of the most wealthy cryptocurrency millionaires, have been awarded another patent on cryptocurrency based exchange-traded products (ETP), according to an article by Finance Magnates. This patent enlarges the already numerous patent portfolio that the twins have managed to amass during the last two years.
The Twins (Cameron and Tyler) that came to be recognized after winning a demand from Mark Zuckerberg on the idea of the creation of Facebook, have been busy getting cryptocurrency patents; being this last the seventh patent awarded this year.
All patents awarded to the twins are oriented mostly to the trading side of cryptos. In this case, exchange-traded products are investment vehicles that let traders bet on the performance of a group of assets, called a “basket”. With this patent, The Winklevoss twins were awarded the ability to trade this kind of products but based on the performance of a group of cryptocurrencies.
The twins will introduce this kind of investment products to their cryptocurrency exchange Gemini later. The problem is that, even after being awarded the patent to do it, they have to wait for regulators to rule about the trading of these investment instruments; ETPs as investments are not new, but cryptocurrency based ETPs indeed are; so they must be first examined due to investor security concerns.
The Securities and Exchange Commision (SEC), the finacial watchdog in the USA, has already dealt with the twins when it denied permission for the establishment of a Bitcoin-based investment instrument on 2012; they had to wait till 2017 to be denied of the permission to do so. Because of this, we can say that the patent does not have a real application today, but the twins are seeing to the future of the cryptocurrency market and betting high to the involvement of financial institutions to the world of trading in the near future.

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