Gemini Secures In-Principle Approval for Investment Firm License in Malta
In the latest developments, crypto exchange Gemini has obtained Malta’s principle approval to obtain an investment company license, allowing it to provide permanentity in the EU. This approval is subject to authorization requirements of the Malta Financial Services Authority (MFSA).
Key steps to EU expansion
Once licensed, the license will enable Gemini to provide regulated futures and options for senior traders and institutions (EEAs) in the EU and the European Economic Area (EEA). This will be done under the market for the Financial Instruments Directive (MIFID II) that manages traditional financial markets. The team said that getting approval for principle in Malta is a key step in its European expansion plan for 2025.
The company aims to expand its market operations by offering these permanent futures contracts to retail and institutional investors. It has provided spot exchange with over 90 digital assets, ActiveTrader with more than 80 trading pairs, an OTC Desk and an EOTC trading system for institutional traders.
Gemini Europe head Mark Jennings noted that “interest in crypto derivatives (especially from institutions) has increased significantly in recent years because cryptocurrencies mature into a recognized asset class.” He further emphasized that Gemini is committed to providing first-class products to retail and institutional investors.
Gemini strengthens its European business
The cryptocurrency exchange has been expanding its operations in Europe as it chose Malta as its hub and obtained a Virtual Financial Asset (VFA) service license from Malta regulators. This license allows it to operate under the market under Crypto Assets (MICA) regulations. Crypto exchanges also hold similar licenses in France.
Crypto exchanges are increasingly entering the derivatives market in response to growing demand for such products. Companies such as Coinbase and Kraken have recently obtained MIFID II licenses to provide similar services in the region. Gemini are following this trend, positioning themselves as competing in a regulated derivatives market. Meanwhile, Gemini is reportedly considering an initial public offering (IPO) in the United States.
