Gemini Secures MiFID II License for European Derivatives Expansion

Gemini, a prominent crypto exchange founded by Cameron and Tyler Winklevoss, has announced that it has obtained a MiFID II license from Malta. This license will enable the company to offer a range of derivative products across the European Economic Area (EEA).

The license, granted by the Malta Financial Services Authority (MFSA), allows Gemini to provide perpetual futures and other derivatives to customers in the European Union's 27 member states, as well as in Iceland, Liechtenstein, and Norway. However, the specific conditions that Gemini must meet to fully utilize this license have not been disclosed, and the company had not provided further details by the time of publication.

This move by Gemini is part of a broader trend among crypto exchanges to expand into the derivatives market as a means of driving revenue growth. For instance, Coinbase, one of the largest crypto exchanges, recently agreed to acquire Deribit, a platform specializing in bitcoin and ether options, for $2.9 billion. This acquisition is seen as a strategic move to establish a dominant position in the derivatives space.

In Europe, Gemini is not the first to secure a MiFID II license. Rival exchange Kraken had previously obtained a similar license in February by acquiring a Cyprus-based investment firm. This license allows Kraken to offer a wide range of financial services, including derivatives, to its European customers.

Gemini expressed enthusiasm about this development, stating that it marks a significant step in their 2025 European expansion plans. The company aims to offer its derivative products to both retail and institutional users within the EU and the EEA, further solidifying its presence in the European market.