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Finance

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.

By Jaspreet Kalra
AccessTimeIconSep 24, 2020 at 3:59 a.m. UTC
Updated May 9, 2023 at 3:11 a.m. UTC
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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.
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    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.