Winklevoss twins moot UK entrance

September 24, 2018
Chris Wheal

Gemini, the US cryptocurrency exchange established by the Winklevoss twins, is tipped to expand into the UK market.

A report in the Financial Times on Monday said the New-York-based Gemini Trust Company had sought advice on how to set up shop in the UK.

An unnamed source also claimed Gemini was near to filing an application with the UK authorities to secure regulatory approval.

Gemini

Twins Cameron Winklevoss and Tyler Winklevoss formed Gemini in 2014

Exploring jurisdictions

“Gemini continues to explore potential jurisdictions around the globe to provide a best-in-class digital asset exchange and custodian which will enable growth and infrastructure to the entire digital asset community,” said Gemini, while claiming there were no immediate plans to establish a UK presence.

Twins Cameron Winklevoss and Tyler Winklevoss formed Gemini in 2014. Gemini subsequently received approval from the New York Department of Financial Services (NYDFS) to operate as a US crypto custodian and trading services provider.

Gemini dollar

The Winklevoss twins had a setback in July when their application to launch a bitcoin exchange-traded fund (ETF) was turned down by US regulators.

Last week, however, Gemini got the green light from the NYDFS for its new “Gemini dollar” (GUSD), a crypto based on the Ethereum blockchain that is intended to facilitate low-cost, cross-border transactions.

Post written by Chris Wheal
Chris Wheal is editor of OpenLedger's news and features service. An award-wining business journalists himself, he runs a team of freelance journalists from across the UK and north America.

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