NEW YORK and LONDON, Sept. 23, 2020 /PRNewswire/ -- Gemini today 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."
Find out more about using GBP on Gemini here.
Gemini Trust Company, LLC (Gemini) is a cryptocurrency exchange and custodian that allows customers to buy, sell, and store bitcoin, ether, and other cryptocurrencies. Gemini is a New York trust company that is subject to the capital reserve requirements, cybersecurity requirements, and banking compliance standards set forth by the New York State Department of Financial Services and the New York Banking Law. Gemini was founded in 2014 by twin brothers Cameron and Tyler Winklevoss to empower the individual through crypto.
Gemini Europe, Ltd is authorized as an electronic money institution and a registered cryptoasset firm under the Fifth Money Laundering Directive by the Financial Conduct Authority in the United Kingdom.