Gemini Spreads Its Wings: Officially Operating in Italy and Greece
Leading cryptocurrency exchange Gemini has officially launched its services in Italy and Greece after securing the necessary regulatory approvals. This expansion signifies a major step for the company in solidifying its presence in the European market. Gemini, a cryptocurrency exchange and custodian that allows customers to buy, sell, and store digital assets, has received regulatory approvals from authorities in Italy and Greece.
Gemini has registered as a virtual currency operator with Italy’s payments services regulator, the Organismo Agenti E Mediatori (OAM), a crucial step in legally operating within the country. Simultaneously, Gemini has also gained a license to serve as a Virtual Asset Service Provider in Greece.
The new registrations, combined with Gemini’s electronic money institution authorization from the Central Bank of Ireland, officially allow the exchange to provide crypto services to a wider European audience. Leading cryptocurrency exchange Gemini announced Wednesday that it has registered in Italy and Greece to legally operate in the region as a virtual asset service and custodial wallet.
This move comes at a pivotal time in the cryptocurrency market, providing users in Italy and Greece with a secure and regulated platform to engage with digital assets. Gemini has officially launched its services in Italy and Greece after the cryptocurrency firm won two separate licenses to serve as a Virtual Asset Service Provider in both nations. The expansion reinforces Gemini's commitment to regulatory compliance and its mission to build a trusted bridge to the future of money.
Interestingly, Gemini gained both licences for Italy and Greece ahead of its lending business which was running into troubles. Gemini Earn, which offers 8 percent interest on crypto deposits, halted its operations, highlighting the importance of regulatory clarity and responsible financial management within the crypto industry. Despite these challenges, Gemini's successful expansion into Italy and Greece underscores its long-term vision and commitment to providing secure and compliant crypto services.