In a latest development, Crypto exchange Gemini has obtained in-principle approval in Malta for an Investment Firm license, allowing it to offer perpetuals across the European Union. The approval is subject to the Malta Financial Services Authority’s (MFSA) pre-authorization requirements.
A Crucial Step For EU Expansion
Once granted, the license will enable Gemini to offer regulated futures and options to advanced traders and institutions across the EU and European Economic Area (EEA). This will be done under the Markets in Financial Instruments Directive (MiFID II), which governs traditional financial markets. The team stated that receiving in-principle approval in Malta is a crucial step in their 2025 European expansion plan.
The company aims to offer these perpetual futures contracts to both retail and institutional investors, expanding its market presence. It already offers a 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.
Mark Jennings, Gemini’s Head of Europe, noted “Interest in crypto derivatives, particularly from institutions, has increased significantly in recent years, as crypto matures into a recognised asset class.” He further emphasized that Gemini is committed to providing a best-in-class offering for retail and institutional investors.
Gemini Strengthens Its European Operations
The crypto exchange has been expanding its presence in Europe, as it selected Malta as its hub and obtained a Virtual Financial Assets (VFA) Service License from the Maltese regulator. This license permits it to operate under the Markets in Crypto-Assets (MiCA) regulation. The crypto exchange also holds a similar license in France.
Crypto exchanges are increasingly entering the derivatives market in response to rising demand for such products. Firms like Coinbase and Kraken have recently secured MiFID II licenses to offer similar services in the region. Gemini is following this trend, positioning itself to compete in the regulated derivatives market. At the same time, Gemini is reportedly considering an Initial Public Offering (IPO) in the United States, according to an announcement made last week.
