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Journalist
Sead Fadilpašić
Journalist
Sead Fadilpašić
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Crypto exchange Gemini has received in-principle approval in Malta for an Investment Firm license to offer perpetuals throughout the European Union.
The press release shared with Cryptonews noted that this is subject to the Malta Financial Services Authorities (MFSA)’s pre-authorization requirements.
However, when granted, the license will allow Gemini to offer regulated futures and options in the countries of the EU and European Economic Area (EEA) to advanced traders and institutions.
It will do so under the Markets in Financial Instrument Directive (MiFID II), a framework regulating the traditional financial markets.
Getting the in-principal approval in Malta is a key step in the company’s 2025 European expansion strategy, the team said.
Gemini aims to increase its offerings for institutional and retail customers. This already includes a spot exchange with more than 90 digital assets, ActiveTrader with over 80 trading pairs, the OTC desk, and eOTC trading system for institutional traders.
Mark Jennings, Gemini’s Head of Europe, commented that achieving this in-principal approval is a crucial “milestone in our commitment to providing a best-in-class offering for retail and institutional investors.”
Jennings added that the “interest in crypto derivatives, particularly from institutions, has increased significantly in recent years, as crypto matures into a recognised asset class.”
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European Expansion in Full Force
Gemini seems to be hard at work expanding its operations throughout the Old Continent. In November 2024, the exchange launched in France as part of its European expansion strategy. Users in that country can open a Gemini account to deposit, trade, and store crypto.
Gemini’s CEO of the UK and Europe, Gillian Lynch, commented that the exchange’s research into the French market discovered a growing interest in digital assets.
Additionally, the latest in-principal approval comes after Gemini selected Malta as the company’s EU hub and jurisdiction for the Markets in Crypto-Assets (MiCA) application. “Receiving MiCA approval will allow us to continue offering our secure and reliable services to customers throughout the region,” the newest press release said.
Also in January 2025, Gemini announced several key senior hires as part of the European expansion.
Moreover, Gemini is not the only company aiming for licenses to spread their businesses in the EU, moving into Malta first.
For example, in June last year, major crypto exchange OKX selected Malta as its hub for MiCA compliance within the European Union. The company chose Malta due to its high regulatory standards and its progressive approach to blockchain and cryptocurrencies.
Approved by the European Parliament in April 2023, MiCA is a comprehensive regulatory framework that the EU established to create consistency in crypto regulation among its member states. Malta was quick to embrace MiCA.
Also, in early January 2025, Chiliz Group’s fan engagement platform Socios.com secured a Virtual Financial Assets Act (VFAA) license from the Malta Financial Services Authority after meeting key requirements in late 2024.
Meanwhile, reports came out in February that Gemini is exploring plans to go public this year.
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