{"id":124909,"date":"2025-03-12T12:15:41","date_gmt":"2025-03-12T12:15:41","guid":{"rendered":"http:\/\/cryptospotters.net\/?p=124909"},"modified":"2025-03-12T12:15:41","modified_gmt":"2025-03-12T12:15:41","slug":"gemini-crypto-exchange-adds-usd-payment-rails-for-european-institutions","status":"publish","type":"post","link":"http:\/\/cryptospotters.net\/?p=124909","title":{"rendered":"Gemini crypto exchange adds USD payment rails for European institutions"},"content":{"rendered":"<p>Source: Cointelegraph.com NewsGemini crypto exchange, founded by Cameron and Tyler Winklevoss, is expanding its trading capabilities for institutional clients in Europe by introducing US dollar payment support<br \/>\nGemini 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.<br \/>\n\u201cWe plan to expand our rollout of USD rail support to our European Union institutional customers in the next few weeks,\u201d said Gemini\u2019s head of Europe, Mark Jennings.<br \/>\nThe new functionality will also be available to Gemini\u2019s institutional users in Gibraltar, Jersey, Guernsey and the Isle of Man.<br \/>\nDirect crypto trades with US dollar<br \/>\nGemini\u2019s new US dollar feature \u2014 also coming to some countries in the European Economic Area \u2014 will enable institutions to deposit and withdraw US dollars to and from their Gemini accounts with no fees.<br \/>\nThe 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:<br \/>\n\u201cWith interest in institutional crypto adoption exploding in recent years, US dollar rails will be key in giving a seamless and frictionless trading experience.\u201d<br \/>\nFor deposits, Gemini will utilize Bank Frick\u2019s 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.<br \/>\nGemini will provide the feature via its EMI-licensed entities<br \/>\nAccording to Jennings, Gemini\u2019s new functionality will be available directly on the platform through its own entities that have received Electronic Money Institution (EMI) licenses.<br \/>\n\u201cUnlike 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,\u201d the exec told Cointelegraph.<br \/>\nIt is unclear how widespread US dollar trading support is among other European crypto exchanges and service providers.<br \/>\nRelated: SEC closed investigation into Gemini with no action, says Winklevoss<br \/>\nMajor crypto exchange Coinbase introduced US dollar trading pairs for European customers in 2019 for Coinbase Pro and Prime customers. The exchange halted its Pro service in 2023.<br \/>\nThe news comes soon after Gemini reportedly submitted a confidential filing for an initial public offering (IPO) in the United States.<br \/>\nSource: BloombergAccording to Bloomberg\u2019s sources, Gemini\u2019s IPO may be launched as soon as this year and would involve companies like Goldman Sachs and Citigroup.<br \/>\nGemini has been working to go public since at least 2021 and reportedly considered a merger with the now-bankrupt venture capital firm Digital Currency Group.<br \/>\nMagazine: Bitcoin\u2019s odds of June highs, SOL\u2019s $485M outflows, and more: Hodler\u2019s Digest, March 2 \u2013 8<a href=\"https:\/\/cointelegraph.com\/news\/winklevoss-gemini-usd-payment-rails-europe-institution?utm_source=rss_feed&amp;utm_medium=rss&amp;utm_campaign=rss_partner_inbound\" target=\"_blank\" class=\"feedzy-rss-link-icon\" rel=\"noopener\">Read More<\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Source: Cointelegraph.com NewsGemini crypto exchange, founded by Cameron and Tyler Winklevoss, is expanding its trading capabilities for institutional clients in Europe by introducing US dollar payment support Gemini has partnered&hellip; <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[],"_links":{"self":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/124909"}],"collection":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=124909"}],"version-history":[{"count":0,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/124909\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=124909"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=124909"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=124909"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}