Gemini cryptoexchange targets expansion to the Great Britain

Gemini cryptoexchange targets expansion to the Great Britain
Sep 25, 2018 by Rico Wise

According to the rumors spread by the insiders, Gemini, the cryptoexchange located in New York, has employed advisors concerning the matters of moving the operations into the United Kingdom, and there are talks of the company filing an application to the British FCA, in order to obtain legal authorization to establish a cryptoexchange in Britain, in compliance with the e-money licensing program of the FCA.

The rumors have not yet been confirmed by the cryptoexchange, only pointing that there are “no immediate” plans, although there is an ongoing assessment of the viable options to expand the operations on global scale.

This spring, the Coinbase cryptoexchange, one of the most dominant operations in the world of digital currencies based in San Francisco, obtained the aforementioned e-money license from the said authority, becoming capable of providing transaction and digital money services to the users in Great Britain, as well as 23 other EU countries. British customers of Coinbase are currently able to engage in trading most dominant digital currencies, such as Bitcoin, Ether, Bitcoin Cash, Litecoin, and Ethereum Classic against the British pound.

Currently, the Geminin cryptoexchange ranks at #61, with 12 million USD daily trading volume, and 750 million USD monthly volume. The top cryptoexchange in the world, Binance, yields 1 billion USD in daily trading volume. Additionally, recent survey has indicated that 30% of London residents have intentions of financing digital currencies, as opposed to the national average of 13%.