Well, howdy y’all! The Gemini crypto exchange, founded by none other than the dynamic duo Cameron and Tyler Winklevoss, has got itself a new trick up its sleeve. They’re fixing to expand their trading capabilities for them fancy European institutions by introducing US dollar payment support. Yep, you heard right! 💵📈
Gemini’s joined forces with Bank Frick, based outta Liechtenstein, to enable US dollar payment rails for them institutional customers in the United Kingdom and Switzerland. They made this announcement on March 12th, and I reckon it’s gonna make some waves across the pond. 🇬🇧🇨🇭
Mark Jennings, Gemini’s head honcho over in Europe, says they plan on rollin’ out USD rail support to their European Union institutional customers in the next few weeks. And lemme tell ya, they ain’t just stoppin’ there. This new feature will also be available to Gemini’s institutional users in Gibraltar, Jersey, Guernsey, and the Isle of Man. Talk about spreadin’ the wealth! 🌍💸
Direct Crypto Trades with US Dollar – Yeehaw!
Now, here’s where things get real interesting. Gemini’s new US dollar feature – comin’ to some countries in the European Economic Area too – will let institutions deposit and withdraw US dollars to and from their Gemini accounts without payin’ a dime in fees. Ain’t that somethin’? 🎉💰
Not only that, but institutions can now access US dollar-to-crypto trading pairs and trade directly with US dollars on Gemini. No need to swap ’em out for pounds or euros, folks. It’s all about makin’ life easier for ya. Jennings reckons this’ll give a seamless and frictionless trading experience, especially with the rise of institutional crypto adoption. 🚀📊
When it comes to deposits, Gemini’s got Bank Frick’s instant transfer service, xPulse, workin’ overtime. It’ll provide a 24/7 fiat on-ramp for institutional customers who’ve got themselves a Bank Frick bank account. Now that’s what I call convenience! 🕰️🏦
Gemini’s Got Its Own EMI-Licensed Entities – How ‘Bout That?
Jennings tells us that Gemini’s new functionality will be available directly on the platform through its own entities that have been blessed with Electronic Money Institution (EMI) licenses. Unlike most crypto asset service providers, Gemini don’t gotta rely on partnerships for funding rails. Their regulatory-first approach lets ’em provide seamless funding solutions straight from their own EMI-licensed entities. Now ain’t that somethin’ to brag about? 🏆💼
Now, it’s anyone’s guess how many other European crypto exchanges and service providers offer US dollar trading support. But Coinbase, one of the big dogs, introduced US dollar trading pairs for European customers back in 2019 for Coinbase Pro and Prime customers. Although, they did call it quits on the Pro service in 2023. 🎲📉
And if you thought Gemini was done makin’ headlines, think again! Word on the street is that they’ve filed a confidential application for an initial public offering (IPO) in the good ol’ USA. 🗽🚀
Bloomberg’s sources say that Gemini’s IPO might launch as soon as this year, with the likes of Goldman Sachs and Citigroup involved. And if you can believe it, Gemini’s been eyein’ a public debut since 2021. They even toyed with the idea of mergin’ with the now-bankrupt venture capital firm, Digital Currency Group. But hey, that’s a story for another day. Stay tuned, y’all! 📈👀
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2025-03-12 14:25