Gemini Exchange Launches in UK After Being Awarded EMI License

The cryptocurrency exchange and custodian has added the pound sterling (GBP) as a funding option.

Sep 24, 2020 at 3:59 a.m. UTC
Updated Sep 14, 2021 at 9:59 a.m. UTC

Cryptocurrency exchange and custodian Gemini said Thursday it is expanding "fully" into the United Kingdom.

  • According to a press statement emailed to CoinDesk, users, both individual and institutional, will now be able to trade and store crypto in the nation, with pounds sterling (GBP) now added as a funding currency. 
  • U.K. residents will be able to make GBP crypto purchases with their debit card or make GBP deposits to fund their account using wire transfers, Faster Payments and CHAPS
  • In August, Gemini was granted an Electronic Money Institution (EMI) license by the U.K.’s Financial Conduct Authority. 
  • The watchdog also approved Gemini as part of its Fifth Money Laundering Directive (5MLD) crypto asset registration process, per the announcement.

DISCLOSURE

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.