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Gemini expands cryptocurrency exchange, custody services in the UK

Date: September 25, 2020 Sunil Jha Sunil Jha
Gemini expands cryptocurrency exchange, custody services in the UK 
Gemini has reportedly announced the expansion of its secure, simple, and reliable cryptocurrency exchange and custody services in GBP in the United Kingdom. Reports state that the move will allow UK consumers to make purchases of GBP crypto using their debit card.



According to Tyler Winklevoss, the CEO of Gemini, going live with the complete range of services available in GBP in the UK is another thrilling step ahead in the international expansion of Gemini, thereby accelerating its mission for the empowerment of businesses and individuals at the global level via crypto.



The UK is a financial innovation global center with a progressive and stringent regulatory regime, added Tyler stating that the company is proud to be part of a rich tradition through facilitating the ushering of the crypto revolution into this historic industry. The company eagerly looks ahead to welcoming institutional customers and consumers to its platform, stated Tyler.



Sources state that Gemini’s expansion into the UK will facilitate customers in making GBP deposits for funding their account immediately via their banks through SWIFT, Faster Payments, and CHAPS wire transfers, with no requirement for transacting in foreign currencies or incurring exchange rate charges.



Reliable sources state that Gemini is also providing its secure platform to institutional investors in the UK in their local currency by allowing them to access custody services, crypto trading, and market data on behalf of their customers. The company’s UK launch has reportedly come after the grant of Electronic Money Institution (EMI) license by the Financial Conduct Authority (FCA). Gemini is also one of the first organizations to have received the approval of the FCA as part of its cryptoasset registration process specified under the Fifth Money Laundering Directive.



According to reports, Gemini is now live with faster ways, new features, and additional local support to crypto investors for funding their account. The company further offers tools on desktop and mobile, allowing users to safely store and manage their portfolio, make investments and trade in cryptocurrencies, as well as understand the market scenario, add sources.



 



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https://www.prnewswire.com/news-releases/gemini-continues-global-expansion-with-uk-launch-301137027.html#:~:text=NEW%20YORK%20and%20LONDON%2C%20Sept,in%20pounds%20sterling%20(GBP)

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Sunil Jha

Sunil Jha has been a part of the content industry for close to two years. Having previously worked as a voice over artist and sportswriter, he now focuses on writing articles for newsorigins.com, across a slew of topics, ranging from technology to trade and finance. With a business-oriented educational background, Sunil brings forth the expertise of deep-dive research and a strategic approach in his write ups.