Cryptocurrency exchange Gemini has expanded its operations in the UK after getting a regulatory green signal from watchdog Financial Conduct Authority (FCA).
Gemini exchange has also announced support for pound sterling (GBP). UK users can now purchase crypto assets with GBP utilizing a debit card. Moreover, one can also deposit GBP from a bank via SWIFT wire, Faster Payments, or CHAPS.
Gemini’s Products for UK Users
Gemini announced on September 24 that “we are expanding our full services into the United Kingdom (UK). Users in the UK can now use our simple, reliable, and secure products, including our Mobile App, to buy, sell, and store crypto.”
Gemini launched in the UK after getting approval by the Financial Conduct Authority as the company gets an Electronic Money Institution (EMI) license. Gemini said:
“As a licensed and compliant platform, we abide by the high regulatory standards established to safeguard your money, securely store your crypto, protect your privacy, and keep bad actors off our platform. Ultimately, this fosters a better and safer experience for you and the larger crypto ecosystem as a whole.”
Products of Gemini which are now functional in the UK include buying, selling, and storage of crypto assets. What’s more, Mobile App is also available for a better experience. One can download the Mobile App of Gemini from the UK App Store or Google Play Store. The account can be created via the Gemini website.
After you deposit GBP in your account, you can buy cryptocurrencies including Bitcoin (BTC), Ether (ETH), Bitcoin Cash (BCH), Chainlink (LINK), Basic Attention Token (BAT). Litecoin (LTC), Dai (DAI), Pax Gold (PAXG), Orchid (OXT), Compound (COMP), and Amp (AMP).
Winklevoss Twins’s Role in Bitcoin Adoption
Winklevoss twins are bitcoin billionaires and are advocating the voice for Bitcoin for a long time. For crypto adoption, their work is unmatchable. Gemini’s latest launch in the UK markets is another example of crypto adoption. On September 10, Tyler Winklevoss said in a tweet:
“The European Central Bank’s refinancing rate is 0% and its deposit rate is -.5%. This means it is free to borrow money, but actually costs you money to save. This is both a potent recipe for inflation and powerful advertisement for #Bitcoin.”