Gemini Secures In-Principle Approval from Malta for European Expansion

Gemini secures in-principle approval from  Malta, expanding crypto trading in Europe with regulated futures, options, and institutional services under MiFID II compliance.

Gemini, a cryptocurrency exchange, has secured in-principle approval in Malta for an Investment Firm license. Regardless, the license would be subject to the Malta Financial Services Authority’s (MFSA) pre-authorization requirements. After the approval, Gemini will be in a position to provide regulated futures and options to clients in the EU and the EEA under MiFID II (Markets in Financial Instruments Directive).

The firm is engaging the Maltese regulator to obtain the license, which will be effective in all of Europe. The approval today is in light of Gemini’s earlier decision to make Malta its EU hub. Malta has also been selected as the jurisdiction for the MiCA application. Following the MiCA approval, Gemini is able to continue offering services to customers that are secure and reliable in the region.

Obtaining in-principal approval marks a key milestone in Gemini’s European growth plan for 2025. Following the license’s issuance, MiFID II will permit Gemini to offer perpetual futures contracts to sophisticated traders and institutional investors across the EU and EEA. These contracts will be made available through advanced trading options.

Gemini Strengthens Market Position with Malta License

This move is aimed at enhancing the service offerings at the institutional level as well as for retail clients. Gemini already operates a spot exchange with more than 90 digital assets and ActiveTrader™ with over 80 trading pairs. Institutional clients also have access to Gemini’s Over-the-Counter (OTC) desk and electronic OTC (eOTC) trading system.

Mark Jennings, Head of Europe at Gemini, pointed out that this approval is of great importance. He said, in-principle approval for an Investment Firm license is a big step forward. He also noted that Gemini is still focused on high quality service provision on both retail and institutional investors. There has been increased interest in crypto derivatives, particularly from institutional investors. The more cryptocurrencies are adopted as an asset class, the more there is a need for regulated trading services.

Now, with this approval, Gemini is getting closer to enhancing its market share in Europe. The company continues to aim at broadening the scope of its services while still observing the requisite legal monetary confines. If the final license is issued, Gemini will be able to cater to traders and institutions from Europe with ease. The approval is a pointer to the increased tolerance within the region towards crypto-based financial instruments.