Gemini Exchange Is Using ClearBank for UK Banking Services

Gemini announced it was expanding into the United Kingdom in late September.

Nov 19, 2020 at 2:52 p.m. UTC
Updated Sep 14, 2021 at 10:32 a.m. UTC

ClearBank says it has been chosen by the Gemini cryptocurrency exchange to provide its U.K. banking services.

  • U.S.-based Gemini had announced in late September that it was expanding “fully” into the United Kingdom, offering trading and custody services.
  • ClearBank said in a press release Thursday it is providing Gemini users with account numbers and sort codes via a single API.
  • It is further bringing the exchange access to U.K. payment rails, such as Faster Payments and the Clearing House Automated Payment System, known as CHAPS.
  • Gemini launched in the U.K. after being awarded an Electronic Money Institution (EMI) license from the Financial Conduct Authority.
  • The "cloud-based" challenger bank said it was able to offer Gemini users pound sterling deposits and withdrawals "in seconds" using Faster Payments.
  • “Gemini is ... one of the first crypto firms ClearBank has worked with, based on its exemplary approach to compliance and innovation," said ClearBank CEO Charles McManus.

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