Gemini, the US-based cryptocurrency exchange, is set to expand in Europe after securing in-principle approval for an investment firm license from Malta’s financial regulator.
The move not only potentially expands Gemini’s European presence, it also brings it a step nearer to its aim to offer regulated crypto trading services across the region and the European Economic Area specifically.
The provisional license award means that Gemini will use Malta as its base as it applies for a full license under the EU’s Markets in Crypto Assets (MiCA) act.
Should it receive a full MiCA license, Gemini would be able to offer regulated futures and options trading throughout the EU and EEA under MiFID II, catering to what it claims is increased interest in crypto derivatives among institutional investors.
“Receiving in-principal approval for an investment license is a key milestone in our commitment to providing a best-in-class offering for retail and institutional investors,” said Mark Jennings, Gemini’s head of Europe.
“Interest in crypto derivatives, particularly from institutions, has increased significantly in recent years, as crypto matures into a recognised asset class.”
