Gemini crypto exchange, founded by the Winklevoss brothers, is introducing dollar payment integration for institutional clients in Europe with the help of Bank Frick.
New Opportunities for Institutional Clients
Gemini has partnered with Liechtenstein-based Bank Frick to establish US dollar payment rails, allowing institutional clients in the UK and Switzerland to conduct payments in US dollars. This feature will be available to EU clients in the coming weeks.
Direct Crypto Trades with US Dollar
Gemini's new feature enables institutions to deposit and withdraw US dollars without fees. It also provides access to USD-to-crypto trading pairs, removing the need to convert to pounds or euros.
Regulation and EMI Licenses
The functionality is available on the platform through Gemini's own entities thanks to the Electronic Money Institution (EMI) license, allowing funding solutions directly without intermediaries.
The introduction of USD payment support aligns with Gemini's exploration of a potential IPO and reflects the company's intent to strengthen its presence in Europe.
