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What happened?

Gemini has partnered with Bank Frick to offer USD payment rails to institutional customers in the UK and soon in the EU. The partnership allows seamless banking services for deposits even outside regular business hours through Bank Frick’s xPULSE service. Gemini’s institutional clients can now conduct transactions, deposit, and access over 80 USD trading pairs with no additional fees temporarily in some regions.

Who does this affect?

This development primarily affects institutional customers of Gemini in the UK, Switzerland, Gibraltar, Jersey, Guernsey, and the Isle of Man. Soon, it will extend to EU and EEA institutional customers, facilitating easier and more efficient crypto transactions for these groups. It also benefits users who participate in the new Gemini Credit Card referral program by offering rewards in cryptocurrency.

Why does this matter?

This expansion into Europe signifies a major move for Gemini in the cryptocurrency market, aligning with the regulatory environment shaped by the EU’s MiCA regulations. By enhancing USD transaction capabilities, Gemini is positioning itself as a competitive player in the European crypto market. This may increase market competition, drive innovation, and potentially lead to better services for institutional investors in cryptocurrency globally.

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