03-12-2025, 04:25 PM
Gemini crypto exchange adds USD payment rails for European institutions
<p style="float:right; margin:0 0 10px 15px; width:240px;"><img src="https://images.cointelegraph.com/images/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjUtMDMvMDE5NTg5NTktMTQzZS03YzM3LWIzYjYtZmY2M2E5ZDc4ZmFm.jpg"></p><p><p style="float:right; margin:0 0 10px 15px; width:240px;"><img src="https://images.cointelegraph.com/images/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjUtMDMvMDE5NTg5NTktMTQzZS03YzM3LWIzYjYtZmY2M2E5ZDc4ZmFm.jpg" alt="Gemini crypto exchange adds USD payment rails for European institutions"></p><p>Gemini crypto exchange, founded by Cameron and Tyler Winklevoss, is expanding its trading capabilities for institutional clients in Europe by introducing US dollar payment support<p>Gemini has partnered with Liechtenstein-based Bank Frick to enable US dollar payment rails for institutional customers in the United Kingdom and Switzerland, the firm said in an announcement shared with Cointelegraph on March 12.</p><p>“We plan to expand our rollout of USD rail support to our European Union institutional customers in the next few weeks,” said Gemini’s head of Europe, Mark Jennings.</p><p>The new functionality will also be available to Gemini’s institutional users in Gibraltar, Jersey, Guernsey and the Isle of Man.</p><h2>Direct crypto trades with US dollar</h2><p>Gemini’s new US dollar feature — also coming to some countries in the European Economic Area — will enable institutions to deposit and withdraw US dollars to and from their Gemini accounts with no fees.</p><p>The functionality will also enable institutions to access US dollar-to-crypto trading pairs and directly trade with US dollars on Gemini, rather than having to convert to the British pound or euros, removing friction, Jennings told Cointelegraph, adding:</p><blockquote>“With interest in institutional crypto adoption exploding in recent years, US dollar rails will be key in giving a seamless and frictionless trading experience.”</blockquote><p>For deposits, Gemini will utilize Bank Frick’s instant transfer service called xPulse, which will provide a 24/7 fiat on-ramp for institutional customers who have a Bank Frick bank account, the firm noted.</p><h2>Gemini will provide the feature via its EMI-licensed entities</h2><p>According to Jennings, Gemini’s new functionality will be available directly on the platform through its own entities that have received Electronic Money Institution (EMI) licenses.</p><p>“Unlike most CASPs [crypto asset service providers] that rely on partnerships for funding rails due to the lack of an EMI license, our regulatory-first approach allows us to provide seamless funding solutions directly through our own EMI-licensed entities,” the exec told Cointelegraph.</p><p>It is unclear how widespread US dollar trading support is among other European crypto exchanges and service providers.</p><p><em><strong>Related: </strong></em><a data-ct-non-breakable="null" href="https://cointelegraph.com/news/sec-closes-investigation-gemini-no-enforcement-action" rel="null" target="null" text="null" title="null"><em><strong>SEC closed investigation into Gemini with no action, says Winklevoss</strong></em></a></p><p>Major crypto exchange Coinbase <a data-ct-non-breakable="null" href="https://www.coinbase.com/blog/launching-usd-trading-pairs-for-european-customers" rel="null" target="null" text="null" title="null">introduced</a> US dollar trading pairs for European customers in 2019 for Coinbase Pro and Prime customers. The exchange <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/coinbase-to-shut-down-coinbase-pro-to-merge-trading-services" rel="null" target="null" text="null" title="null">halted its Pro service</a> in 2023.</p><p>The news comes soon after Gemini reportedly <a data-ct-non-breakable="null" href="https://www.bloomberg.com/news/articles/2025-03-07/winklevoss-twins-gemini-is-said-to-file-confidentially-for-ipo" rel="null" target="null" text="null" title="null">submitted</a> a confidential filing for an initial public offering (IPO) in the United States.</p><figure><img src="https://s3.cointelegraph.com/uploads/2025-03/019589e5-d941-7767-a422-01ca7acac666" title="" alt="Gemini crypto exchange adds USD payment rails for European institutions"><figcaption style="text-align: center;"><p><em>Source: Bloomberg</em></p></figcaption></figure><p>According to Bloomberg’s sources, Gemini’s IPO may be launched as soon as this year and would involve companies like Goldman Sachs and Citigroup.</p><p>Gemini has been <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/winklevoss-brothers-reportedly-eye-public-listing-for-gemini-crypto-exchange" rel="null" target="null" text="null" title="null">working to go public since at least 2021</a> and reportedly <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/winklevoss-brothers-reportedly-mulling-gemini-ipo-again" rel="null" target="null" text="null" title="null">considered a merger</a> with the now-bankrupt venture capital firm Digital Currency Group.</p><p><em><strong>Magazine: </strong></em><a data-ct-non-breakable="null" href="https://cointelegraph.com/magazine/bitcoin-odds-new-all-time-highs-june-sam-bankman-fried-bitcoin-reserve-hodlers-digest/" rel="null" target="null" text="null" title="null"><em><strong>Bitcoin’s odds of June highs, SOL’s $485M outflows, and more: Hodler’s Digest, March 2 – 8</strong></em></a></p><template data-name="subscription_form" data-type="markets_outlook" label="Subscription Form: Markets Outlook"></template></p>
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https://cointelegraph.com/news/winklevos...er_inbound
<p style="float:right; margin:0 0 10px 15px; width:240px;"><img src="https://images.cointelegraph.com/images/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjUtMDMvMDE5NTg5NTktMTQzZS03YzM3LWIzYjYtZmY2M2E5ZDc4ZmFm.jpg"></p><p><p style="float:right; margin:0 0 10px 15px; width:240px;"><img src="https://images.cointelegraph.com/images/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjUtMDMvMDE5NTg5NTktMTQzZS03YzM3LWIzYjYtZmY2M2E5ZDc4ZmFm.jpg" alt="Gemini crypto exchange adds USD payment rails for European institutions"></p><p>Gemini crypto exchange, founded by Cameron and Tyler Winklevoss, is expanding its trading capabilities for institutional clients in Europe by introducing US dollar payment support<p>Gemini has partnered with Liechtenstein-based Bank Frick to enable US dollar payment rails for institutional customers in the United Kingdom and Switzerland, the firm said in an announcement shared with Cointelegraph on March 12.</p><p>“We plan to expand our rollout of USD rail support to our European Union institutional customers in the next few weeks,” said Gemini’s head of Europe, Mark Jennings.</p><p>The new functionality will also be available to Gemini’s institutional users in Gibraltar, Jersey, Guernsey and the Isle of Man.</p><h2>Direct crypto trades with US dollar</h2><p>Gemini’s new US dollar feature — also coming to some countries in the European Economic Area — will enable institutions to deposit and withdraw US dollars to and from their Gemini accounts with no fees.</p><p>The functionality will also enable institutions to access US dollar-to-crypto trading pairs and directly trade with US dollars on Gemini, rather than having to convert to the British pound or euros, removing friction, Jennings told Cointelegraph, adding:</p><blockquote>“With interest in institutional crypto adoption exploding in recent years, US dollar rails will be key in giving a seamless and frictionless trading experience.”</blockquote><p>For deposits, Gemini will utilize Bank Frick’s instant transfer service called xPulse, which will provide a 24/7 fiat on-ramp for institutional customers who have a Bank Frick bank account, the firm noted.</p><h2>Gemini will provide the feature via its EMI-licensed entities</h2><p>According to Jennings, Gemini’s new functionality will be available directly on the platform through its own entities that have received Electronic Money Institution (EMI) licenses.</p><p>“Unlike most CASPs [crypto asset service providers] that rely on partnerships for funding rails due to the lack of an EMI license, our regulatory-first approach allows us to provide seamless funding solutions directly through our own EMI-licensed entities,” the exec told Cointelegraph.</p><p>It is unclear how widespread US dollar trading support is among other European crypto exchanges and service providers.</p><p><em><strong>Related: </strong></em><a data-ct-non-breakable="null" href="https://cointelegraph.com/news/sec-closes-investigation-gemini-no-enforcement-action" rel="null" target="null" text="null" title="null"><em><strong>SEC closed investigation into Gemini with no action, says Winklevoss</strong></em></a></p><p>Major crypto exchange Coinbase <a data-ct-non-breakable="null" href="https://www.coinbase.com/blog/launching-usd-trading-pairs-for-european-customers" rel="null" target="null" text="null" title="null">introduced</a> US dollar trading pairs for European customers in 2019 for Coinbase Pro and Prime customers. The exchange <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/coinbase-to-shut-down-coinbase-pro-to-merge-trading-services" rel="null" target="null" text="null" title="null">halted its Pro service</a> in 2023.</p><p>The news comes soon after Gemini reportedly <a data-ct-non-breakable="null" href="https://www.bloomberg.com/news/articles/2025-03-07/winklevoss-twins-gemini-is-said-to-file-confidentially-for-ipo" rel="null" target="null" text="null" title="null">submitted</a> a confidential filing for an initial public offering (IPO) in the United States.</p><figure><img src="https://s3.cointelegraph.com/uploads/2025-03/019589e5-d941-7767-a422-01ca7acac666" title="" alt="Gemini crypto exchange adds USD payment rails for European institutions"><figcaption style="text-align: center;"><p><em>Source: Bloomberg</em></p></figcaption></figure><p>According to Bloomberg’s sources, Gemini’s IPO may be launched as soon as this year and would involve companies like Goldman Sachs and Citigroup.</p><p>Gemini has been <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/winklevoss-brothers-reportedly-eye-public-listing-for-gemini-crypto-exchange" rel="null" target="null" text="null" title="null">working to go public since at least 2021</a> and reportedly <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/winklevoss-brothers-reportedly-mulling-gemini-ipo-again" rel="null" target="null" text="null" title="null">considered a merger</a> with the now-bankrupt venture capital firm Digital Currency Group.</p><p><em><strong>Magazine: </strong></em><a data-ct-non-breakable="null" href="https://cointelegraph.com/magazine/bitcoin-odds-new-all-time-highs-june-sam-bankman-fried-bitcoin-reserve-hodlers-digest/" rel="null" target="null" text="null" title="null"><em><strong>Bitcoin’s odds of June highs, SOL’s $485M outflows, and more: Hodler’s Digest, March 2 – 8</strong></em></a></p><template data-name="subscription_form" data-type="markets_outlook" label="Subscription Form: Markets Outlook"></template></p>
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https://cointelegraph.com/news/winklevos...er_inbound