The Gemini exchange opens the doors to investors from the United Kingdom, launching operations for its entire range of services in the country. Led by the famous Winklevoss twins, the New York based cryptocurrency exchange Gemini has officially launched in the UK, coming after the Financial Conduct Authority (FCA) in the country granted it an Electronic Money Institution (EMI) license.
The crypto news also show that the Winklevoss led Bitcoin and crypto trading platform is also one of the first businesses to receive the FCA approval as a part of its Fifth Money Laundering Directive (5MLD) crypto asset registration process.
The British government is pondering of imposing a second lockdown right now, which the folks at Gemini exchange saw as a great opportunity to announce their launch in the UK, and “milk” the ongoing and upcoming surge in Bitcoin and crypto trading activities within the country.
Gemini is open for business in the UK🇬🇧
— Gemini (@Gemini) September 24, 2020
As Gemini exchange opens the doors to UK crypto investors, there is an accompanying blog article where they announced the rollout of the full suite of services for UK users. As we can see from it, the New York based Bitcoin exchange also added support for the state-backed fiat currency GBP, which according to Gemini would ‘provide a more local experience’ to its British users.
The UK launch of Gemini comes on the heels of the recent Electronic Money Institution license approval. This made Gemini one of the first crypto trading platforms to receive the UK Financial and Conduct Authority (FCA) Electronic Money Institution (EMI) license. The approval gives it the official permission to offer Bitcoin and cryptocurrency trading services to both individuals as well as businesses within the country.
“As a licensed and compliant platform, we abide by the high regulatory standards established to safeguard your money, securely store your crypto, protect your privacy, and keep bad actors off our platform. Ultimately, this fosters a better and safer experience for you and the larger crypto ecosystem as a whole,” Gemini said.
The founder and CEO of the exchange, Tyler Winklevoss, also talked about how Gemini exchange opens its doors and added:
“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.”
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