American crypto exchange Gemini has launched its crypto services in six European countries – Denmark, Sweden, Portugal, Czechia, Latvia, and Liechtenstein.
Gemini’s European Expansion
Gillian Lynch, who is Gemini’s Head of Ireland and EU, announced that the exchange had launched its crypto trading services in these six new European countries. As a result, individuals and institutions based in these six countries can now open a Gemini account to deposit, trade, and hold custody over the 100 cryptocurrencies listed on the exchange. Both the Gemini website and the mobile app is available for consumers in these countries to buy cryptocurrencies using fiat currencies like Euro (EUR) or Pound Sterling (GBP) via debit card, bank transfer, or even Apple Pay or Google Pay.
For advanced individual traders, the exchange is offering a high-performance trading interface called ActiveTrader, which will deliver a professional-level experience. They will be able to access features like advanced charting and multiple order types. On the other hand, for institutional clients, the features available on the Gemini platform are custody, clearing, trade execution, price discovery, and portfolio management services.
Gemini’s Ireland And UK Expansion
The launch reveals that the company is not shy about expanding its operations across Europe, an impression that might have been gleaned from its recent series of layoffs. The exchange had relieved 10% of its staff in June of this year, as an anticipatory move for the crypto winter and a precaution to an anticipated downward spiral of crypto prices. However, soon after the layoff, the company embarked on its European ambitions, starting with Ireland. In July, Gemini became the first crypto exchange to be approved as a Virtual Asset Service Provider (VASP) by the Central Bank of Ireland and thereby became authorized as an electronic money institution.
“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.”
The exchange had opened its headquarters in Dublin last year. Soon after attaining its VASP clearing, the exchange signed a partnership deal with open banking and payments platform Plaid to introduce a new crypto-buying service to the bank’s UK-based customers. The customers would not need to enter their bank details or pay any additional fees to buy or to deposit crypto through their pre-existing bank accounts.