The Gemini Crypto Exchange plans to expand their USD trading support for institutional customers in the European Union.
Mithun Exchange has partnered with Lichettein -based bank Frick to bring US dollar payments support for institutional customers in the UK and Switzerland. Announcement originally shared with cointelegraph On 12 March. This enabled the institutions to first submit, withdraw and trade on the exchange on the exchange instead of converting the first British pounds or euros. To enable immediate deposits in dollars (out of general banking hours), Mithun is using the “Xpulse” service of Bank Frik.
In announcement Shared with coinlagraph On March 12, Europe’s head Mark Jenings said that USD payment support would be extended to institutional customers along with the European Union, especially Jibraltar, Jersey, GWENS and Isle of Man.
Other exchanges have offered USD trading in Europe (eg, Coinbase in 2019 Before closing it in 2023), but it is not widespread. In addition, unlike other exchanges, which rely on the third-party participation to the European Union customers to bring USD support, Gemini is directly introducing this service through its licensed institutions, which are authorized to handle the Electronic Money (EMI license).
“Unlike most casps [crypto asset service providers] Due to lack of EMI license, funding rely on the partnership for rail, Jennings said, “Our regulator-first approach allows us to provide direct funding solutions through our own EMI-lishes institutions.”
