Gemini has secured in-principle approval from Malta’s financial regulator for an investment firm license, marking a significant step in its European expansion, according to a Feb. 11 statement shared with CryptoSlate.
With this approval from the Malta Financial Services Authority, the exchange is one step closer in offering regulated services for crypto across the European Economic Area.
European expansion
This regulatory milestone aligns with Gemini’s broader strategy to establish a stronger European foothold.
Malta will be the primary base of its Markets in Crypto-Assets Application (MiCA). Gemini’s full MiCA licensing would enable it to provide secure and compliant crypto-services throughout the region.
Gemini will also have the ability to sell regulated futures, options and other financial instruments under MiFID II. It would also expand the company’s offering to encompass perpetual futures in Europe and cater to increasing institutional and retail demands.
Mark Jennings, Head of Europe at Gemini, described this approval as a crucial step in the company’s long-term vision. As the crypto market matures, he highlighted an increasing demand among institutional investors for cryptocurrency derivatives.
Gemini stated also that these regulatory improvements will enhance their service offerings. The perpetual futures will complement its existing products, including its spot exchange, ActiveTrader™, OTC desk, and eOTC trading systems.
European expansion
Gemini’s expansion reflects a larger trend of crypto firms strengthening their European presence.
Over the past months, major exchanges, including Coinbase, Kraken, Crypto.com, and OKX, have announced plans to enter or expand in the region ahead of MiCA’s full implementation.
MiCA is the first framework of regulation for digital assets to be adopted by a major bloc in the European Union.
It is intended to reduce fragmentation and improve consumer protection in the EU. This would allow crypto firms to be able to conduct business in multiple countries under one regulatory order.
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