Gemini exchange is allegedly going to explore an expansion into the U.K. They will open their door to a new and emerging British crypto market.
Gemini is an important exchange even if it limits their options to certain areas.
The trading volume is also really lower than it should be and this is the main reason for which Gemini needs to expand and discover new markets.
The U.K. is really optimistic about crypto, and this will be a sensible next step for the exchange.
The U.K. market is enormous, and it will have a very big impact ion the trading volume of the Gemini exchange. This means benefits for the Winklevoss twins’ pockets.
Gemini continues to explore potential jurisdictions around the globe
A spokesperson from Gemini has told The Financial Times:
“[We] continue to explore potential jurisdictions around the globe to provide a best-in-class digital asset exchange and custodian which will enable growth and infrastructure to the entire digital asset community.”
It’s also worth mentioning that the exchange is getting closer and closer to filing a complete application to open up trading operations within the U.K. with the Financial Conduct Authority.
In order to facilitate U.K. trades, Gemini has to seek approval from the FCA, and this should not be too difficult given that as it stands, Gemini also has similar approval from the relevant U.S. authorities.
“Gemini already operates as a fully compliant crypto custodian and trading services provider in the U.S., having received formal approval from New York’s Department of Financial Services (NYDFS) to operate under the state’s exacting BitLicense framework in 2015,” Cointelegraph says.
Access into the Gemini exchange in the U.K. would give British investors the opportunity to try out a new and expanding platform. Once the U.K. is cracked, Gemini will definitely continue its growth, and it will probably enter other European countries as well.