Gemini has taken a significant step in its European expansion strategy by securing in-principle approval for an Investment Firm license in Malta.
Approval from MFSA
According to a February 11 blog post, the Malta Financial Services Authority (MFSA) has granted in-principle approval, paving the way for the company to offer regulated crypto derivatives, including perpetual futures, across the European Union and the European Economic Area.
Significance of MiFID II License
While the approval is subject to the MFSA's pre-authorization requirements, once fully granted, it will allow Gemini to operate under the Markets in Financial Instruments Directive II (MiFID II), the regulatory framework governing traditional financial markets in the region.
Malta as Central Hub
Notably, Gemini has chosen Malta as its central hub for its Markets in Crypto-Assets (MiCA) application. Once approved, Gemini can provide regional services under a unified regulatory framework. The company has also expanded its operations by launching in France in November 2024, allowing users to open accounts and trade cryptocurrencies.
The granting of an investment firm license to Gemini in Malta marks a significant milestone in the company's expansion, enabling opportunities in the European market.
