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Gemini Exchange Launches in UK After Being Awarded EMI License

The cryptocurrency exchange and custodian has added the pound sterling (GBP) as a funding option.

Updated May 9, 2023, 3:11 a.m. Published Sep 24, 2020, 3:59 a.m.

Cryptocurrency exchange and custodian Gemini said Thursday it is expanding "fully" into the United Kingdom.

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According to a press statement emailed to CoinDesk, users, both individual and institutional, will now be able to trade and store crypto in the nation, with pounds sterling (GBP) now added as a funding currency.
U.K. residents will be able to make GBP crypto purchases with their debit card or make GBP deposits to fund their account using wire transfers, Faster Payments and CHAPS.
In August, Gemini was granted an Electronic Money Institution (EMI) license by the U.K.’s Financial Conduct Authority.
The watchdog also approved Gemini as part of its Fifth Money Laundering Directive (5MLD) crypto asset registration process, per the announcement.