The cryptocurrency exchange Gemini has officially registered with the Malta Financial Services Authority (MFSA) as a provider of virtual asset services. With the acquisition of the license under the MiCA regulation, Gemini is now able to offer its products and services in the field of digital assets across the European Union.
This is reported by Business • Media
New Opportunities for European Users
In addition to the MiCA license, Gemini previously obtained a MiFID II license, allowing the platform to trade derivatives and other financial products within the same jurisdiction. As a result of holding both documents, the company can expand its range of financial services and products for clients in more than 30 countries in Europe. This includes access to innovative tools such as derivatives, as well as a variety of virtual assets.
“This confirms Gemini’s long-standing commitment to adhering to the highest standards of regulatory compliance, which has allowed us to continue our growth in the region. We believe that clear regulation of the industry is the foundation for the global adoption of cryptocurrencies, and the implementation of MiCA has proven that Europe is one of the most innovative and advanced regions in this regard,” the company stated.
Launch of New Products and Market Development
In June, Gemini launched tokenized stocks for European users on the Arbitrum blockchain. These tokens reflect traditional stocks and are available for trading 24/7, providing users with greater flexibility compared to standard stock markets.
Gemini is not the only platform to receive a MiCA license: among other registered exchanges are Bitvavo, Kraken, Bybit, and Coinbase. This indicates a growing interest from international players in regulated access to the European virtual asset market.
The MiCA regulation is a fundamental legislative framework for crypto assets at the EU level. It was approved by the Council of the European Union back in June 2023. The process of implementing the rules into the legislation of EU countries is taking place in two stages. Although the integration was planned to be completed by the end of 2024, some countries are still working on adapting their own regulations.
Gemini has also announced intentions to conduct an initial public offering (IPO) in the future.