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Organisation

Gemini

4 placements on ChainChoice under Gemini, each scored against its own category's pool and criteria — #1 in 2 of them. The placements are not averaged and not ranked against each other: a #1 exchange and a #6 crypto card are two different products in two different markets.

Institutional Custody
Gemini Custody
Rank#1 OverallScore80

Leads the published order

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OTC Desks
Gemini eOTC
Rank#1 OverallScore80

Leads the published order

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Tokenised Equities
Gemini Tokenized Stocks
Rank#8 OverallScore41

#1 in this category: Superstate Opening Bell

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Exchanges
Gemini
Rank#14 OverallScore47

#1 in this category: Bybit

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Institutional Custody
How you can lose money here, and what the ranking scores
  • Insolvency failure: the firm or issuer that owes you cannot pay.
    Scored by If they fail, are the assets still mine — or am I queueing as an unsecured creditor? · 30% (Gemini Custody 8/10)
    Scored by Is the insurance number mine, and does it cover the wallet setup I'll actually run? · 20% (Gemini Custody 6/10)
  • Regulatory failure (Gemini Custody 8/10): no licence where you are, or a forced market exit.
    Scored by Which legal entity actually takes my assets — and does its licence on the register say it may? · 35%
Not assessed by this ranking: Control failure, Liveness failure, Custody failure, Execution failure, Exit failure, Information failure. A high place says nothing about these; the Methodology tab says what each means. Also scored, as cost, quality or a summary of several families: Can I find out what this costs before I'm inside their sales process? (15%).
OTC Desks
How you can lose money here, and what the ranking scores
  • Insolvency failure (Gemini eOTC 8/10): the firm or issuer that owes you cannot pay.
    Scored by Counterparty footing and asset segregation · 30%
  • Execution failure: you get a worse price, later, or nothing.
    Scored by Documented settlement mechanics · 22% (Gemini eOTC 8/10)
    Scored by Published price transparency · 18% (Gemini eOTC 2/10)
Not assessed by this ranking: Control failure, Liveness failure, Custody failure, Regulatory failure, Exit failure, Information failure. A high place says nothing about these; the Methodology tab says what each means. Also scored, as cost, quality or a summary of several families: Published minimum ticket (30%).
Tokenised Equities
How you can lose money here, and what the ranking scores
  • Insolvency failure: the firm or issuer that owes you cannot pay.
    Scored by Do I own the share, or do I own a promise from whoever sold it to me? · 35% (Gemini Tokenized Stocks 1/10)
    Scored by Whose name is on the paper I am buying — and can I look that entity up in a register? · 25% (Gemini Tokenized Stocks 7/10)
  • Regulatory failure (Gemini Tokenized Stocks 9/10): no licence where you are, or a forced market exit.
    Scored by Can a US person hold this — and does the vendor give me the same answer twice? · 18%
  • Information failure (Gemini Tokenized Stocks 2/10): the number is wrong or bought, or your data leaks.
    Scored by When a dividend or a split happens, does anyone tell you in writing what you will get? · 22%
Not assessed by this ranking: Contract failure, Control failure, Custody failure, Exit failure. A high place says nothing about these; the Methodology tab says what each means.
Exchanges
How you can lose money here, and what the ranking scores
  • Custody failure (Gemini 6/10): whoever holds the assets loses or withholds them.
    Scored by When this venue broke, did people get their money out — and how would I know? · 28%
  • Insolvency failure (Gemini 8/10): the firm or issuer that owes you cannot pay.
    Scored by If this exchange fails — or freezes me — are the coins legally mine, and on whose terms? · 18%
  • Regulatory failure (Gemini 7/10): no licence where you are, or a forced market exit.
    Scored by Whose licence actually covers me in my country — and can I find it on the register? · 24%
Not assessed by this ranking: Control failure, Liveness failure, Execution failure, Exit failure. A high place says nothing about these; the Methodology tab says what each means. Also scored, as cost, quality or a summary of several families: What will I actually pay here at my volume — including the spread they don't print? (30%).