Gemini has announced it is expanding fully into the United Kingdom (UK), providing individuals and institutions with cryptocurrency exchange and custody services in pounds sterling.
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.
The firm’s CEO, Tyler Winklevoss stated: “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 organisation’s around the world through crypto.
“The UK is a global centre 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.”
It comes as the second wave of guidelines in the UK may well lead to further growth within digital currency amongst UK consumers.
Gemini’s new features seek to enhance 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.