Cryptocurrency exchange Gemini has partnered with London-based fintech firm BCB Group in a move that will result in faster ways to transact GBP for UK customers.
Gemini has been focused on a global expansion for the past few years, launching an Australian exchange last August while establishing a European HQ in London earlier this year.
The company’s UK launch follows the Financial Conduct Authority (FCA) granting it an Electronic Money Institution (EMI) licence. Gemini is also one of the first businesses that the FCA has approved as part of its Fifth Money Laundering Directive (5MLD) cryptoasset registration process.
The Winklevoss twin-owned platform is now connected into BCB’s API, which essentially streamlines Gemini’s interactions with multiple banks and currencies.
Today we're excited to announce our partnership with @Gemini, providing users with the opportunity to transact 24/7 with instantaneous, frictionless deposits and withdrawals
— BCB Group (@BCBcrypto) October 12, 2020
Blair Halliday, Gemini’s Chief Compliance Officer for Europe, said: “Gemini is focused on creating the smoothest experience possible for our UK customers to make deposits into and withdrawals out of their accounts instantly in GBP via Faster Payments, CHAPS, and SWIFT transfers.
“We are excited to be working with BCB Group to ensure that Gemini has secure access to real-time settlement infrastructure, enabling us to integrate with our banking partners. As an authorised payment institution with deep expertise in the digital asset market, BCB is an excellent partner for us.”
Oliver von Landsberg-Sadie, Founder and CEO, BCB Group, added: “The Gemini integration project has been a real BCB tech highlight of 2020 where so much of Gemini’s forward thinking has shaped our own innovation path. Thrilled to be part of Gemini’s big splash into this region.”
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