Gemini Launches In The UK
Gemini announced it is expanding fully into the United Kingdom (UK), providing individuals and institutions with simple, reliable, and secure cryptocurrency exchange and custody services in pounds sterling (GBP).
The company’s UK launch follows the Financial Conduct Authority (FCA) granting it an Electronic Money Institution (EMI) license. Gemini is also one of the first businesses that the FCA has approved as part of its Fifth Money Laundering Directive (5MLD) cryptoasset registration process.
Gemini is now live with new features, additional local support, and faster ways for crypto investors to fund their account. The company provides tools on mobile and desktop that enable users to trade and invest in cryptocurrencies, understand the market, and safely store and manage their portfolio.
UK consumers can make GBP crypto purchases with their debit card or make GBP deposits to fund their account immediately through their banks via Faster Payments, CHAPS, and SWIFT wire transfers, with no need to transact in foreign currencies or incur exchange rate fees.
Gemini also now offers its secure platform to UK institutional investors in their local currency, enabling them to access crypto trading, market data, and custody services on behalf of their clients.
Tyler Winklevoss, Gemini CEO, said, “Going live with our full services available in GBP in the UK is another exciting step forward in Gemini’s international expansion, advancing our mission to empower individuals and organizations around the world through crypto. The UK is a global center of financial innovation with a stringent and progressive regulatory regime. We’re proud to help usher the crypto revolution into this historic market and become a part of its rich tradition. We look forward to welcoming consumers and institutional customers to our platform.”
The opinion provides greater regulatory certainty for banks within the federal banking system.
He joins as part of the recently announced acquisition of Tagomi.
The US regulator said markets are becoming more digitized so banks need to use new technology.
Institutional investors will have the opportunity to securely access the crypto market.
The COVID-19 pandemic means alternatives to cash may become yet more attractive.