Gemini, the cryptocurrency exchange founded by Cameron and Tyler Winklevoss, has made significant strides in its European expansion by securing a MiFID II license from the Malta Financial Services Authority (MFSA). This license allows Gemini to offer derivative products across the European Economic Area (EEA), which includes all 27 member nations of the European Union, as well as Iceland, Liechtenstein, and Norway.
With this new regulatory approval, Gemini plans to introduce perpetual futures and other derivative products tailored to meet the diverse needs of both retail and institutional users. However, the company has not disclosed the specific conditions associated with this license and did not provide further details by publication time.
The movement towards derivatives is becoming a pivotal strategy for cryptocurrency exchanges seeking new revenue streams. Recently, Coinbase, one of the industry’s largest players, announced its intentions to acquire the bitcoin (BTC) and ether (ETH) options platform Deribit for a substantial $2.9 billion. This acquisition not only reflects Coinbase’s ambition to solidify its position in the derivatives market but also suggests a broader industry trend towards expanding product offerings in response to growing demand.
In the competitive European market, Gemini is following closely behind its rival Kraken, which successfully obtained a MiFID license earlier this year through the acquisition of a Cyprus-based investment firm. This strategic move underscores the importance of regulatory compliance as exchanges vie for market share in the increasingly lucrative derivatives sector.
Gemini expressed its enthusiasm about this development, indicating that it signifies a considerable advancement in their 2025 European expansion strategy. “This is a hugely exciting development in our 2025 European expansion, as it puts Gemini one step closer to offering our derivative products to both retail and institutional users in the EU and the EEA,” the company stated.
As Gemini embarks on this new chapter, it will be vital to monitor how these developments will affect their competitive standing in the market and how their offerings will evolve in response to the landscape of cryptocurrency derivatives.
Read more: In $2.9B Deal, Coinbase Agrees to Buy Deribit to Expand in U.S. Options Market
