Gemini, Crypto Exchange, founded by Cameron and Tyler Winklevoss, said it ensured a MiFID II license from Malta to offer derived products in the European economic area.
The license from Malta Financial Services Authority (MFSA) will enable the company to offer eternal futures and other derivatives throughout the European Union’s 27 nations plus Island, Liechtenstein and Norway when the required conditions are met, Gemini said Friday.
“There are technical and operational steps to ensure that we launch these products in a compatible and safe way, as we hope to do in the coming months,” a spokesman for Gemini said.
Exchanges have moved into derivatives as the next limit for revenue growth. One of the biggest crypto exchanges, Coinbase (COIN), Thursday said it agreed to pay $ 2.9 billion to buy Bitcoin BTC$102,758.38 and ether ETH$2,297.78 Options platform delivered. The purchase gives it an instant “dominant foothold” in the derivatives, a note from the benchmark analyst Mark Palmer said at the time.
In Europe, Gemini follows in the footsteps of Rival Kraken, which secured a MiFID license in February by buying a cypruso-based investment company.
“This is a tremendously exciting development in our European expansion in 2025, as it sets Gemini one step closer to offering our derived products to both retail and institutional users in the EU and EEA,” the company said.
Read more: In $ 2.9B Deal, Coinbase accepts to buy Deribit to expand on the US Options Market
Update (9 May 15:26 UTC): Adds Gemini Comment in the third paragraph.
