Key Notes
- Gemini has expanded in the EEA with new staking and perpetual trading services.
- Two weeks ago, the crypto exchange received a MiCA license from Malta.
- Gemini is planning towards its public offering on the Nasdaq under the ticker symbol GEMI.
Following a new development, the European Economic Area (EEA)-based users of Gemini, the cryptocurrency exchange founded by the Winklevoss twins, can now stake Ethereum
ETH
$4 471
24h volatility:
1.6%
Market cap:
$539.55 B
Vol. 24h:
$35.33 B
and Solana
SOL
$209.5
24h volatility:
0.8%
Market cap:
$113.21 B
Vol. 24h:
$6.92 B
.
They also get to trade perpetual contracts, particularly those denominated in Circle’s USDC.
Gemini Now Has Staking and Derivatives Services in Europe
The news that Gemini will be expanding its services in Europe came in on September 5, stating that there will be an addition of staking and derivatives offerings. Per a Cointelegraph report, the exchange’s users in EEA now have the privilege of staking their ETH and SOL.
The crypto exchange also added trading perpetual contracts denominated in USD-pegged stablecoin USDC.
Earlier this year, Gemini launched tokenized stocks, which represent company shares in the European region.
At the time, it was said that the debut puts the firm on the path to launch more products and services to serve both retail and institutional customers, including derivatives. The latest development underscores this position.
Gemini first took the strategic step of securing the Market in Crypto Asset (MiCA) license from the Malta Financial Services Authority on August 20.
This was the ticket that gave it approval to provide its services to all the countries within the EEA. It was also earlier authorized under the Markets in Financial Instruments Directive (MiFID II) in May.
Speaking of the MiCA license, Mark Jennings, the Head of Gemini Europe, noted that “Receiving this approval marks a critical milestone in our regulated European expansion, as it will allow us to offer secure and reliable crypto across all 30 European countries and jurisdictions, unlocking a vastly larger market.”
This time around, he stated that Gemini is now a strong contender in Europe following the launch of these products and services in the region.
Meanwhile, the concept of Ethereum staking is fast becoming a hot topic across several regions, including the United States.
Gemini Plans for Its US IPO
Gemini is currently working on its US Initial Public Offering (IPO) plans. The exchange is looking to raise $317 million in this IPO by offering 16.67 million shares of Class A common stock at $17–$19 each.
Should it succeed, Gemini would become the third publicly traded digital asset exchange in the US.
This is after Coinbase Global Inc., which got listed in 2021, and Bullish, which had a strong debut earlier this year. Even Bo Pei, analyst at US Tiger Securities, stated that it feels like this is an opportune time for crypto-related companies to consider going public.
Gemini filed its application to list its Class A shares on the Nasdaq Global Select Market under the ticker symbol GEMI.
The plan includes having top banking institutions like Goldman Sachs & Co. LLC and Citigroup as lead bookrunners, joined by Morgan Stanley and Cantor as co-lead bookrunners.
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Benjamin Godfrey is a blockchain enthusiast and journalist who relishes writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desire to educate people about cryptocurrencies inspires his contributions to renowned blockchain media and sites.