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.