Tyler and Cameron Winklevoss have launched their Gemini cryptocurrency exchange in the UK to continue their global expansion
Gemini, the cryptocurrency exchange, has opened its UK branch after obtaining approval from the Financial Conduct Authority (FCA). The licence allows Gemini to provide cryptocurrency services for the region.
The cryptocurrency exchange announced yesterday it is fully expanding its services into the UK. Gemini will be providing both individuals and institutions with a reliable, simple and secure cryptocurrency exchange and custody services in their local fiat currency.
The launch of Gemini UK comes after the company received an Electronic Money Institution (EMI) licence from the FCA. Furthermore, Gemini is one of the first financial institutions to gain the FCA’s approval as part of the agency’s Fifth Money Laundering Directive (5MLD).
Gemini stated that “We now also support the pound sterling (GBP) to provide a more local experience for our UK users. You can purchase crypto with GBP using a debit card or make a GBP deposit from your bank via Faster Payments, CHAPS, or SWIFT wire.”
The cryptocurrency exchange maintains that it abides by high regulatory standards put in place by the FCA to help safeguard customer funds, securely store cryptocurrencies and protect privacy. As such, traders and investors can expect a better and safer experience in the cryptocurrency market.
Gemini features now fully available in the UK
Following the launch of Gemini in the UK, traders and investors in the country can enjoy new features, extra local support and faster ways for users to fund their accounts. Gemini provides users with tools on their mobile and desktop platforms that allow them to trade and invest in cryptos, understand the market, and securely store and manage their investment portfolio.
Consumers in the UK can purchase cryptocurrencies using British Pounds (GBP) with their debit cards. They can also deposit GBP into their Gemini account through their banks using CHAPS, SWIFT and Faster Payments wire transfers. Hence, there is no need to transact in foreign currencies or suffer exchange rate fees.
These features are not limited to retail investors. Gemini also offers its secure platform to institutional investors in the country. It allows them to access market data, custody and crypto trading services on behalf of their clients.
Gemini CEO, Tyler Winklevoss is excited about the launch of the exchange in the UK. He stated that launching their full service in GBP in the UK is an exciting step forward for the company’s international expansion. It further advances its mission to empower both individuals and organisations around the world via cryptocurrencies. Winklevoss added that as a global center of financial innovation, Gemini is proud to usher in its cryptocurrency revolution into the historic UK market.