Gemini, a U.S. based centralized cryptocurrency exchange (CEX) established by Tyler and Cameron Winklevoss, is reported to make a significant stride towards expanding its reach into the decentralized finance (DeFi) space. This anticipated expansion is centered on the impending launch of a new product dubbed Gemini Onchain.
Unveiling Gemini Onchain
On August 5, the exchange engaged its followers on what seems to be a cryptic X post. In a bid to stir interest, Gemini cryptically urged its followers to believe in somETHing, accompanied by a link to a new website known as Horizon. However, the true endpoint of the Horizon link was kept hidden in its JavaScript until a countdown that culminates on August 14.
On further examination of the link, investigative work revealed a hidden URL embedded in the JavaScript of the page. This URL led to another website for Gemini Onchain. The unveiled site for Gemini Onchain seems to be indicative of a planned proprietary DeFi platform, and also a self-custodial wallet product recalibrated as Gemini Smart Wallet.
Gemini’s DeFi Platform
The forthcoming Gemini Onchain interface shows similarities to the current web3 portals found on other centralized exchanges like OKX and Binance. It depicts a DeFi protocol aggregator in conjunction with self-custody wallet and swap functionalities. Given the layout of the platform, users can look forward to executing token swaps in a more straightforward manner. They will also be capable of allocating assets into yield-bearing products, such as the Prime Vault and Frontier Vault and accessing stellar decentralized exchanges (DEXs) and other DeFi protocols like Aave, Uniswap, and Curve.
Exploring Web3 Domain Registries
In addition to these, the upcoming Gemini Onchain DeFi platform also proposes to offer access to web3 domain registries, Real World Assets (RWAs), and external decentralized apps (dApps) through redirection to third-party analytics platforms.
Recruitment for Onchain Expansion
Further investigations into the Horizon website revealed a hidden link leading to a job advertisement – a senior software engineer position to play a crucial role in the development of Gemini’s Onchain project. According to the job description, the expected role to be played by this engineer includes the enhancement and expansion of existing blockchain-based products and supporting platforms. This includes functions related to staking, transfers, and custody, without providing additional details.
Confirmation of Gemini Onchain
Gemini is yet to make a public statement confirm the existence or functionality of the Onchain platform, or to comment on reports of its venture into expanding product offerings in the DeFi space. Attempts to request comments from Gemini, as of the time this report was published, had not yet garnered a response.
Drive to Integrate CeFi and DeFi
This reported venture of Gemini into DeFi is not an isolated occurrence. Coinbase, the biggest U.S. CEX by daily trading volumes, was a frontrunner in this race having launched a self-custody wallet a few years back.
Coinbase recently underwent rebranding, changing its self-custody wallet to Base App and enhancing it with more on-chain functionality. This application merges functions across wallet, trading, payments, messaging, and dApps discovery into a unified interface.
Similarly, top-flight U.S.-based cryptocurrency exchange, Kraken, has launched an L2 network known as Ink on Optimism’s Superchain. Kraken also announced the introduction of its native token, INK, in mid-2025.
Conclusive Remarks
In conclusion, the fusion of centralized and decentralized finance into novel blockchain-based product offerings by various exchanges is fast becoming the mainstay in the crypto world. The likes of Binance and OKX, with their origins tied to Asia, were among the pioneers in this integration. As reported earlier, the push for a super app status has led companies like Coinbase in the United States to emulate the super app model demonstrated by Asia’s WeChat. With Gemini’s reported foray into this fusion, it gives us a glimpse into the future of the crypto world and the endless possibilities it brings.
