Gemini Partners with ClearBank to Provide Banking Services for UK Exchange Users

In September, U.S.-based Gemini announced its intentions to expand fully into the U.K., to offer trading and custody services. It seems the crypto exchange is now turning its words into action.

Today, cloud-based clearing bank Clearbank announced that it had become the UK banking services provider of top crypto exchange and custodian Gemini.

ClearBank will provide its single API integrated secure infrastructure for Gemini, including securing sort codes and dedicated account numbers. It will also offer express access to payment mediums like CHAPS and Faster Payments.

There have been increased numbers of crypto holders in the U.K., especially now that there is uncertainty regarding the stability of the dollars after Brexit.

The U.K. Financial Conduct Authority (FCA) recently revealed more than 1.9 million holders of crypto assets.

Last month, Gemini rolled out its full services in GBP after receiving an Electronic Money Institution (EMI) license from the FCA.

The license and the present partnership with ClearBank will enable Gemini U.K. customers to deposit or withdraw their GBP balances through the bank. Gemini is offering its customers a secured ClearBank API platform for the complete safety of their accounts.

Apart from protecting the account of the users, Gemini will also maintain the highest regulatory compliance.

Partnership with address issues consumers are facing

ClearBank chief executive officer Charles McManus says the bank is happy to be chosen as Gemini’s banking partner. He pointed out that Gemini has proven that it’s a market leader in the exchange industry over the years. The crypto exchange is also one of the first the bank has worked with, confirms McManus.

In the deal, the role of ClearBank is to provide payment rails and access to accounts, which will help Gemini deliver the best customer experience. He revealed that the partnership aims to help address some of the biggest issues consumers have faced in the industry.

Head of Gemini UK Blair Halliday also commented on the development. According to him, its customers’ high needs in the U.K. have prompted the need to opt for ClearBank as its official banking partner for its U.K. customers.

He said customers in the U.K require fast and easy access to their funds at all times. With faster payment methods, it grows the relationship with customers, and that’s exactly what Gemini has set out to achieve.

Blair also said its shared innovative technology with Clearbank makes the arrangement possible. He pointed out,

“With our shared focus on rigorous compliance, robust security, and innovative technology, ClearBank is an obvious partner for Gemini.”

As cryptocurrencies increase in popularity in the U.K, consumers are always exploring faster and more efficient methods to store their funds.

As a result, users of trading platforms should instantly fund their accounts without being forced to pay extra FX charges. They also want to know their funds are safe and secure, which can only be achieved with a high-risk management standard. Gemini said by choosing ClearBank’s banking services, it hopes to address its customers and crypto holders’ underlying needs.

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Author: Ali Raza

Winklevoss’ Crypto Exchange, Gemini, Partners With European Payments Processor, BCB Group

The Winklevoss-owned crypto exchange, Gemini, is expanding its presence in the U.K., aiming to provide more efficient payment systems to its clients. The NYFDS regulated exchange announced a partnership with BCB Group, a payment processing service provider, to consolidate and enhance payments from U.K based clients.

Having previously partnered with top crypto exchanges, including Coinbase and Bitstamp, as well as crypto custodial firms such as Galaxy Digital, BCB Group’s rapport in the crypto industry is well established’. The partnership with Gemini will enhance the liquidity provisions and fiat-to-crypto conversions to the exchange.

BCB Group is an institutional-grade payment processor offering cryptocurrency-focused companies, accounts, and liquidity to boost financial transactions. The company received it’s Financial Conduct Authority (FCA) license to act as an authorized payment institution (API) in the U.K. This provides a regulatory cover for Gemini clients in the U.K.

Read More: Gemini Crypto Exchange Opens GBP for Buying, Selling, & Trading in the UK

The partnership with Gemini aims at improving conversions of fiat (i.e., British Pound) to crypto with faster and safer payment processes. According to Blair Halliday, Gemini’s chief compliance officer in Europe, partnering with BCB Group will simplify the payment process for its clients and improve the relationship with banks and institutions in the U.K.

Notwithstanding, Blair believes BCB Group’s partnership will further “secure access to real-time settlement infrastructure, enabling us [Gemini] to integrate with banking partners.” Halliday said,

“Gemini is focused on creating the smoothest experience possible for our UK customers to make deposits into and withdrawals out of their accounts instantly in GBP via Faster Payments, CHAPS, and SWIFT transfers.”

The crypto exchange is known for its regulatory approach, having recently acquired its FCA license granting it an Electronic Money Institution (EMI) license. This followed the company’s insistent nature is following the Fifth Money Laundering Directive (5AMLD) crypto-asset registration process.

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Author: Lujan Odera

Gemini Crypto Exchange Opens Up GBP for Buying, Selling, and Trading for UK Customers

Cryptocurrency exchange Gemini is now expanding into the UK.

The launch follows obtaining an electronic-money institutions (EMI) license from the Financial Conduct Authority (FCA) after the agency declared that all crypto exchanges operating in the country are required to register with it as per its Fifth Money Laundering Directive (5MLD) by Jan. 10, 2021.

Now that Gemini is open for business in the UK, the users in the region can buy, sell, store, and trade crypto using their local currency pound sterling (GBP).

“London is one of the birthplaces of modern finance and has a rich tradition of regulation, but also fosters an environment of innovation,” said Tyler Winklevoss.

The New York-based firm founded by Tyer and Cameron Winklevoss will now let its users buy Bitcoin and other cryptos using debit cards. Supported cryptos include Bitcoin (BTC), Bitcoin Cash (BCH), Basic Attention Token (BAT), Dai (DAI), Ether (ETH), Litecoin (LTC), ChainLink (LINK), Orchid (OXT), Amp (AMP), Pax Gold (PAXG), and Compound (COMP).

Cryptocurrency investors can also fund digital wallets via bank payments such as CHAPS, Faster Payments, and Swift wire transfers without incurring foreign exchange fees.

Gemini is among the few registered firms — already operating — in the UK, with Archax being another one approved by the US regulator and due to launch in the fourth quarter.

The crypto exchange, which is also a New York State Department of Financial Services regulated custodian, is also in the licensing process in Singapore.

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Author: AnTy

Gemini Debuts DeFi Listings in New York Market With Amp, Compound, and Pax Gold

Gemini crypto exchange has announced that New York users will now be able to trade Compound (COMP), Amp (AMPL), and Pax Gold (PAXG) against the USD. The Winklevoss brothers’ led crypto exchange noted that it worked in collaboration with the New York Department of Financial Services (NYDFS) to receive approval for listing these digital assets. According to the official announcement, active trading of the newly added pairs is scheduled for September 15.

This move is quite significant for the New York market, which had been left out of the DeFi space when it comes to listings on centralized crypto exchanges. Coinbase, for instance, has been quite active in listing ‘hot’ DeFi tokens, but yet to cover prospective users in New York. With COMP’s listing on Gemini, crypto investors and enthusiasts in the big apple will now be able to acquire positions in DeFi through the exchange.

COMP made waves in May when the decentralized protocol debuted this governance token to be used in running the platform. The protocol has since risen to become one of the leading DeFi lending and borrowing platforms; currently, its market cap stands 544 million while the price of one COMP token is $163 as per Coingecko metrics. Tyler Winklevoss, Gemini’s Co-founder, tweeted bullish sentiments as well,

“The #DeFi revolution is upon us. @Gemini is now accepting deposits for $AMP @amptoken, $PAXG @PaxosStandard, and $COMP @compoundfinance. Trading to begin on 9/15!”

Amp and PAXG, on the other hand, propose value in digital collateralization and gold tokenization, respectively. The former will expose Gemini’s clients to Flexa’s Network collateral token ‘AMP’ whose underlying is to act as a form of collateral, supporting the fundamentals of Flexa’s payments network. This innovation allows users to pay merchants’ in crypto while Flexa handles ‘under the hood’ to convert these payments to the merchants’ preferred fiat currency.

Gemini’s venture into the DeFi space has scaled its range of tradeable digital assets to 12; notable mentions that were already featured include BTC, LTC, ETH, and BCH. The exchange highlighted that its updated trading portfolio would be available via API connections and the platform’s Active Trader.

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Author: Edwin Munyui

Brave Adds Gemini Trading Widget; Privacy-Focused Users Can Buy Crypto Directly In the Browser

Brave browser has added a Gemini Trading Widget to its main interface, a move that will allow the users of this privacy-focused browser to access Gemini’s crypto listings without a hustle. According to the announcement by Brave, their partnership with Gemini is a significant step in making crypto purchases, sales, storage, and rewards more interactive at a basic level.

Notably, Gemini’s Trading Widget is not the first to be integrated with Brave; the browser had already featured a Binance Widget that has been functional since April.

A Brave Opportunity in Crypto!

Following a successful pitch based on privacy, Brave has been on the rise, with its number of active users increasing every quarter since the start of 2020. The latest stats from June show a monthly active usage of 15 million while daily active users stood at 5.3 million. Interestingly, this browser is also crypto-friendly and runs its own token-based ‘BAT’ reward ecosystem for viewing ‘privacy ads.’

The addition of Gemini’s Trading Widget, which was originally testest on the Nightly version, comes as no surprise to the crypto community, given the crypto exchange listed BAT tokens a few months ago. This widget is pretty seamless and accessible on Brave’s opening tab; users just need to connect to their Gemini accounts, after which they can use Gemini’s card on the Brave interface to initiate trades and manage their accounts as well.

Other than crypto trading activities, the collaboration will enable Brave-verified content creators to leverage Gemini’s content creator wallet to custody their BAT rewards.

“That means Brave creators can receive their BAT payments into their Gemini Creator Wallet, or in any other fiat or crypto asset supported on Gemini’s Exchange.” Reads the blog.

While the integration with crypto networks seems to be going smoothly, Brave has encountered its fair share of challenges with a recent call out for profiting from affiliate company links. The company’s CEO, Brendan Eich, however, apologized and reassured Brave users that they would no longer alter links automatically.

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Author: Edwin Munyui

Winklevoss Twins’ Gemini Onboards Eventus to Detect Manipulation on the Exchange

Cryptocurrency exchange and custodian Gemini has chosen Eventus Systems to provide it with surveillance and anti-market manipulation tools. Austin-based Eventus already provides its services to Coinbase and ErisX, and three other exchanges.

Currently, a less regulated space, crypto, is seeing increased scrutiny from the regulators. Manipulation has been the primary reason why the US Securities and Exchange Commission (SEC) has repeatedly rejected the Bitcoin ETFs.

“The digital asset space is a constantly changing environment,” Noah Perlman, Gemini’s chief operating officer, said in a statement. “Eventus has a great track record.”

Gemini was founded by Cameron and Tyler Winklevoss in 2014. They also created the Virtual commodity Association in 2018 to work with regulators, including CFTC, to prevent fraud and manipulation in crypto markets. That year, Gemini hired Nasdaq to provide market surveillance.

“As digital assets grow in popularity, it’s more important than ever that marketplaces like Gemini establish comprehensive trade-surveillance programs and procedures to ensure they remain constantly vigilant,” said Eventus chief executive officer Travis Schwab.

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Author: AnTy

Gemini and Crypto Investing Platform Blockchange Collab on RIA Trading & Custody Services

  • Gemini crypto exchange collaborates with Blockchange Inc. to offer trading and vault solutions to the registered investment advisors (RIA).
  • The RIA will be able to securely manage their clients’ portfolios focused on digital assets. The Quantum Capital management will onboard as their first client

News has now emerged that the Gemini crypto exchange will extend trading and vault services to the registered investment advisors (RIA). The announcement was made today via their official twitter page.

The Winklevoss-led crypto exchange has unveiled a strategic partnership with the digital asset investment platform, Blockchange Inc. This is a platform that offers wealth managers, and advisors access to manage their clients’ entire portfolios easily. The collaboration will integrate Blockchange’s BITRIA professional-grade portfolio management capabilities with Gemini’s vast exchange solution.

According to Dan Eyre, Blockchange’s CEO, Gemini, was the perfect partner for the solution due to their status as the only qualified exchange assets custodial providers. This ensures that only the custodian retains the clients’ funds, which has been stipulated as a prerequisite to utilize the RIA solution.

Gemini COO, Noah Pearlman, reiterated that developing investor solutions with requirements and input from wealth managers and advisors could only work to encourage other investors to onboard the vast digital assets network.

Notably, the wealth management group, Quantum Capital Management, is the first institutional client to onboard the solution. They boast of having at least $125 Million in assets under their administration. This will give their clients ease as they look to broaden their customer’s portfolios with more popular digital assets coming up and available on the Gemini crypto exchange.

The Quantum CIO Howard Aschwald has highlighted the significance of risk-adjusted returns, and the potential of digital assets could not be ignored further. Adding that they owed their clients the very least a small allotment. Despite weighing some of their options: Hedge funds, Investment trusts, and index funds, they concluded that the Gemini solution was the most flexible and best suited to fulfill their needs.

“It allows us to implement, at scale, our Digital Asset Management Strategy improving liquidity and control over risk management.”

Impressively, the crypto exchange recently extended support for three additional fiat currencies. They now feature the Canadian Dollar, Australian Dollar, and Hong Kong dollar on their platform as they seemingly look to expand their global presence, particularly into the Asia Pacific region.

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Author: Lujan Odera

Gemini Increases Fiat Currency Options with CAD, HKD and AUD Support

Gemini crypto exchange has added support for three fiat currencies within its trading platform, according to an official announcement by the firm on August 17.

The Winklevoss brothers’ led digital asset trading platform will now feature the Canadian dollar (CAD), the Australian Dollar (AUD), and the Hong Kong dollar (HKD).

This milestone comes as a significant boost to Gemini, which has been looking to scale its operations globally. The firm has signaled a possible debut in the Asia Pacific region after it recently hired a managing director for this jurisdiction. Gemini further revealed that it is considering the application of a Singapore regulatory license.

With these newly included fiat currencies, the ambition of operating on a global scale are now a possibility for the Gemini crypto exchange. Initially, users could only top up their accounts based on the U.S dollar, a feature that left out a good number of prospects in other markets. The exchange has since highlighted that its users will derive the same utility from newly added fiat currencies.

Its clients in Australia, Canada, and Hong Kong can now top up their accounts and buy/sell crypto based on their native currencies. Gemini, however, noted that these newly featured fiat currencies are yet to be offered on the exchange’s Active Trader Platform but will be made available soon, given it is part of the product roadmap.

This latest expansion by Gemini is among the exchange’s 2020 highlights, with a notable mention being its recent partnership with Samsung. The two firms are now working together towards enabling Samsung Blockchain wallet users to leverage Gemini’s mobile application in crypto trading.

Other than that, the exchange has listed several cryptocurrencies, including Brave’s native token ‘BAT,’ DAI, LINK, and OXT. In terms of its expansion strategy, the exchange appears to be optimistic on the European market and has hired a former Sterling Bank Exec to make inroads in this market.

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Author: Edwin Munyui

Gemini To Offer Custody Services For Unstoppable Domains’ .Crypto Web Extensions

  • The Winklevoss-led Gemini exchange, will now custody ‘Unstoppable domains’ for parties who wish to keep their .crypto domains safe.

The fear of losing your private keys has always seen crypto investors, especially institutional grade investors, relinquish the control to custodial services for safekeeping. Similarly, NYDFS-registered crypto exchange, Gemini will start to custody .crypto web domains, a censorship-resistant domain service from Unstoppable Domains, a blockchain firm.

These .crypto domains are self-custodial domains, meaning you are fully in charge of your website and run on the Ethereum blockchain as non-fungible tokens (NFTs). NFTs are unique collectible tokens that hold a specific value. As self-custodial domains, .crypto web domains are decentralized and resistant from any censorship.

Gemini exchange custodial services

The new product service that Gemini is offering is rather contradictory to the overall purpose of having a self-custodial domain. Imagine if the government takes over Gemini and forces the famous billionaire twins, Tyler and Cameron, to freeze your domain. This will kill off the main competitive advantage that a .crypto holds – censorship resistance.

However, the product is built for corporations mostly who have no problem with censorship resistance if they could build their decentralized website. Those non-controversial companies who want to keep their domains safe since they are not in use currently. Brad Kam, founder of the San Francisco-based decentralized domain name registrar, Unstoppable Domains said,

“These are traditional businesses. They’re not the kind of people that would be building decentralized websites early. That’s the reason why the custody service is more appropriate for them.”

The new .crypto custodial service will first be tested by two traditional domain naming system (DNS) firms, 101domain and EnCirca.

Unstoppable in developments

Unstoppable Domains launched at the tail end of 2019 after raising $4 million in a seed round from billionaire venture capitalist Tim Draper’s, Draper Associates, in a bit to promote free speech across the globe. The platform has since released over 200,000 censorship-resistant .crypto domains and extended its support for Chrome and Opera browsers.

Recently, Unstoppable Domains released a decentralized chat app aiming to give users complete data privacy in their communication.

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Author: Lujan Odera

Gemini Adds Support for Hardware Security Keys on iOS, Android Mobile Apps

Gemini crypto exchange is boosting the security of its network following the integration of hardware security key support functions. This move is meant to make the Winklevoss run digital currency exchange more secure, given the history of hacks in the crypto industry. The new support function for hardware keys on the Gemini exchange will allow users to leverage added security from providers like Yubikey.

According to a statement on July 13, Gemini app users on both Android and iOS now have the ability to authenticate their login via Web Authentication (WebAuthn). This is a security interface that uses public-key cryptography to validate multiple users of internet apps. The statement reads:

“Gemini customers can now use USB and near-field communication, or NFC, security keys to sign into the Gemini Mobile App securely.”

The Two-Factor Authentication (2FA) Value

Gemini’s support for hardware security keys underscores the value of two-factor authentication. This initiative will prevent sim-swap attacks and possible hacks, as per Gemini’s prospectus. Only the hardware key owner can access their account even if their login credentials have been compromised.

Gemini has been working on this milestone in collaboration with Yubico’s Yubikey, a security provider whose services can now be integrated with the Gemini exchange.

“Yubikeys provide a secure, cross-platform solution you can use to access your Gemini account via our Mobile App, as well as any other sites that support WebAuthn.”

Gemini has since noted that users looking to take advantage of the new security features fully should register at least two hardware keys, one that is supported within their mobile devices and a cross-platform service such as Yubikey.

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Author: Edwin Munyui