The continuous effort of the cryptocurrency exchange Gemini to provide a clear operational framework for the crypto business can not be overemphasized. Effectively, the exchange platform owned by the Winklevoss Twins has decided to expand its reach globally by creating companies in six European countries.
As announced by the firm on October 31, it is launching in Denmark, Sweden, Portugal, Latvia, Czechia, and Liechtenstein. Similarly, residents of the above countries will be able to open a Gemini account in order to deposit, trade, and own over 100 cryptocurrencies. These services will be available to both individual and institutional clients.
To access this service, users can visit the exchange’s platform via its mobile app or its website to trade a range of cryptocurrencies using Euros (EUR) and Pound Sterling (GBP). They could also complete these transactions using Google Pay, Apple Pay, debit card, or bank transfer.
The exchange has provided two interfaces tailored toward the needs of its clients. Therefore, advanced traders can carry out their trades using ActiveTrader – a crypto trading interface that features advanced charting and multiple order types while its institutional clients can use its institutional-grade, crypto trading platform.
Gemini stations European headquarters in Ireland
Gemini’s entry into these new markets follows its launch into Ireland where it became the first company to secure a Virtual Asset Service Provider (VASP) from the Central Bank of Ireland.
It also holds an Electronic Money Institution (EMI) authorization from the regulator. With its Irish office based in Dublin, significant aspects of its business across Europe are conducted in Ireland making the Irish country its European headquarters.
According to Gillian Lynch, Gemini’s Head of Ireland and European Union, the launch into these six countries signals the firm’s progress in the European market as well as its positive engagement with regulators in these regions.
Meanwhile, during the heat of the recent market downturn, Gemini was one of the first trading platforms to lay off its workers. The exchange trimmed as many as 7% of its workforce as a cost-cutting measure.
Also Cameroon Winklevoss, co-founder of Gemini cryptocurrency exchange recently stepped down as a Board Director in the company’s Europe Division but will continue as the firm’s global lead together with his twin brother Tyler Winklevoss.