The Head of Ireland and the EU at Gemini, Gillian Lynch, made the announcement that the exchange had begun offering its cryptocurrency trading services in six additional European nations.
People and organizations based in these six nations can now register a Gemini account to deposit funds, conduct transactions, and maintain custody of the 100 cryptos available on the platform. Customers in these nations can purchase cryptocurrencies on the Gemini website and mobile app using fiat currencies such as the Pound Sterling (GBP) or the Euro (EUR) using debit cards, bank transfers, or Google and Apple Pay, depending on their preference.
The platform is offering a powerful trading interface dubbed ActiveTrader for experienced individual traders, which will provide a professional environment. They will have access to functions like numerous order kinds and advanced charting. On the other end, the Gemini exchange offers clearing, custody, price discovery, trade execution, and portfolio management solutions for institutional investors.
The company’s latest round of layoffs may have given the appearance that it was reluctant to expand its operations in Europe, but the introduction shows that it is not. In June 2022, the exchange let go 10% of its workforce in preparation for the coming crypto winter and as a safety measure against an expected decline in cryptocurrency values. But shortly following the layoff, the corporation started pursuing its European goals, initially in Ireland. Gemini became the first cryptocurrency exchange to be licensed as an electronic money institution by the Central Bank of Ireland as a Virtual Asset Service Provider (VASP) in July 2022.
According to Lynch, “Launching in these six countries represents further progress in Gemini’s continued roll out across Europe, which is built on a foundation of positive engagement with regulators and policymakers to obtain relevant authorizations and registrations.”
In 2021, the exchange established its Dublin headquarters. Right after achieving VASP clearance, the exchange partnered with open banking and payments system Plaid to offer a new cryptocurrency buying solution to the bank’s clients who are based in the United Kingdom. To buy or deposit cryptocurrency using their pre-existing bank accounts, clients would not be required to submit their bank information or pay any extra fees.