Gemini cryptocurrency exchange, recently founded by Tyler and Cameron Winklevoss, has been expanding over the world. Furthermore, the reports have been saying that they are entering the UK Financial Market.
Gemini was founded as the Gemini Trade Company, in New York City, in 2014. It has launched itself as a cryptocurrency exchange. Furthermore, according to CoinMarketCap, it has already become the 58th biggest cryptocurrency exchange, by trading volume.
What do the Sources say?
Sources from the company have reported that the firm has hired advisors. That is for them to oversee their expansion to the United Kingdom’s financial markets. To clarify this, a spokesperson from Gemini went on to quote that they don’t have a ready plan to do it.
“We continue to explore potential jurisdictions around the globe to provide a best-in-class digital asset exchange and custodian which will enable growth and infrastructure to the entire digital asset community.”
Furthermore, another source from the company went on to say that they are about to file an application. The application would be filed with the Financial Conduct Authority (FCA). The FCA is the financial regulator of the UK Markets.
KoinAlert also reported about Gemini’s new stablecoin, launched on September 10. The coin will be US Dollar pegged stablecoin. The New York Department of Financial Services (NYDFS) approved the Gemini dollar. NYDFS also became the regulatory authority of the project.
“It’s been really encouraging to see the global digital asset community understand the profound potential impact of a truly regulated, USD-backed stablecoin.”, stated Tyler Winklevoss, the CEO of Gemini Trust Company.
Renowned cryptocurrency exchange HitBTC also pledged their support for stablecoin. They also listed Gemini Dollar (GUSD) on their platform, just 10 days after its launch.
HitBTC tweeted on September 21 stating, “HitBTC strongly supports the concept and philosophy of stablecoins. And today we’re happy to open markets for the Gemini Dollar ($GUSD), on HitBTC.”
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