Gemini Announces Launch in UK
Last updated on November 1st, 2022 at 01:39 am
If you’ve been around the crypto space for any length of time, you know that we look forward to mass adoption of cryptocurrency. So, when we try to tout any expansion of the space across the globe.
In a bid to continue their global expansion, the Winklevoss twins, Cameron and Tyler, who founded the Gemini cryptocurrency exchange, have just opened a branch in the United Kingdom.
After getting approval for the exchange from the financial Conduct Authority (FCA), the Gemini crypto exchange launched its services, and all services offered by the crypto exchange will be offered in the UK branch as well.
The announcement was made on September 24th.
The crypto exchange is set to offer secure and simple cryptocurrency exchange to both institutions and individuals. The exchange will also offer custody services in the local fiat currency.
Obtaining FCA Approval
With this approval from the FCA, Gemini is now one of the first cryptocurrency exchanges to receive an Electronic Money Institution license (EMI) from the FCA, as part of its 5th Money Laundering Directive (5MLD).
In the announcement, Gemini also stated that the exchange is supporting trades and exchanges in GBP, as its effort to offer more local experience to the users.
“We now also support the pound sterling (GBP) to provide a more local experience for our UK users,” the exchange reveals.
Users of the exchange’s platform can now buy cryptocurrencies using their debit cards. They can also deposit the same local currency from their banks through SWIFT, CHAPS or Faster Payments.
Gemini stated that it judiciously follows the high regulatory standards set by the FCA when dealing with users on its exchange platform to protect privacy, securely store crypto funds and help safeguard customer funds. With this launch, the crypto exchange said investors and traders should be expecting a safer and better transaction experience in the crypto market.
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UK Will Enjoy Gemini’s Full Range of Features
This expansion into the UK will mean that UK residents will enjoy all the features of the Gemini exchange platform as well as any new features when they are launched.
They will also enjoy faster methods of funding their accounts and extra local support.
Gemini will offer tools to users on both their desktop and mobile trading platforms, allowing users to invest and trade in cryptocurrencies, securely manage and store their investments and understand the market for future trades.
Many industry experts have hailed the move by Gemini to set up its branch in the UK, as it will encourage more crypto participation even from those in the mainstream financial sector.
Gemini will be offering its exchange service to both institutional and retail investors, allowing them to access crypto trading services and market data on behalf of their clients.
Ushering Cryptocurrency Into The Market
Gemini chief executive officer Tyler Winklevoss says setting up the company’s branch in the UK is a big step towards the exchange’s goal of international expansion. It is a statement of intent to empower organizations and individuals around the world through cryptocurrencies.
Tyler also said as a global player in the cryptocurrency industry, the company is proud to bring in its crypto revolution to the historic UK market.
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