A new collaboration between financial services firm Country Street Corporation and the Winklevoss' Gemini cryptocurrency substitution volition launch a reporting pilot for cryptocurrency holdings under custody.

Per a press release published on Dec. 17, the ii entities launched a new pilot that would combine Gemini Custody — the exchange's custody fly — with State Street'southward back-office reporting. The projection enables users to consolidate the reporting of their digital assets processed by Gemini with their traditional avails serviced by State Street.

Small, simply growing demand

Initially, the pilot will produce reports on two cryptocurrencies chosen for liquidity reasons within Gemini Custody. The companies state that somewhen, the service will enable clients to receive reports on their holdings of other digital avails such as security tokens.

Commenting on the development, Ralph Achkar, managing director of digital product development and innovation at State Street, said, "In that location is small-scale, but growing need from our clients for solutions of this type and many technical, operational, regulatory, and legal considerations to be addressed."

Gemini CEO Tyler Winklevoss said, "Traditional investors will more than seamlessly exist able to allocate capital in their portfolio to digital assets through trusted and regulated financial institutions."

Gemini Custody rolled out in September, allowing customers to merchandise their assets in custody on the Gemini substitution without waiting for them to be transferred from common cold storage.

Gemini Custody reportedly supports xviii cryptocurrencies including Bitcoin (BTC), Bitcoin Cash (BCH), Ether (ETH) and Litecoin (LTC), as well as several ERC-20 tokens including 0x (ZRX), Diviner (REP), Basic Attention Token (BAT), Dai (DAI), Maker (MKR) and OmiseGo (OMG).

Also in September, Gemini introduced a sub-accounts feature for institutional customers — enabling the cosmos of unlimited multiple accounts under one master business relationship.