Omniex, a cryptocurrency trading technology platform, has been acquired by Gemini.

According to the firm, the purchase and integration of Omniex will help simplify the experience for institutional investors wishing to dive further into cryptocurrency.

Gemini, the crypto exchange, has purchased trading technology platform Omniex, less than a week after announcing its acquisition of digital asset portfolio management firm BITRIA.

Omniex, founded in 2017 by former State Street employees, provides institutional crypto trading order, execution, and portfolio management system solutions.

According to Dave Abner, Gemini’s global head of business development, the purchase and integration of Omniex into Gemini’s current institutional custody, clearing, and trading solutions streamlines the experience for institutional investors wishing to move further into crypto.

According to Gemini’s Wednesday statement, the integration would give a single point of access to numerous exchanges and OTC liquidity sources, tools and algorithms to assure trade transparency, and a trading experience with application programming interface (API) connection.

The acquisition enables Gemini to officially unveil Gemini Prime, a crypto prime-brokerage business that select clients have been utilizing for the past year. The product will be available in its entirety in the second quarter.

The Omniex team will join Gemini to develop and extend platform capabilities for the prime services business.

According to Abner, Gemini is looking to expand its institutional business with crypto solutions that are similar to offers in traditional finance.

Last week, the business announced the acquisition of BITRIA. According to Abner, this acquisition allows financial advisers to get exposure beyond closed-end funds and spot ETFs focusing on the major coins.

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