Gemini joins Europe's crypto race with Malta's regulatory approval

Gemini joins Europe’s crypto race with Malta’s regulatory approval

Gemini has secured in-principle approval from Malta’s financial regulator for an investment firm license, marking a significant step in its European expansion, according to a Feb. 11 statement shared with CryptoSlate.

This Malta Financial Services Authority (MFSA) approval moves the exchange closer to offering regulated crypto services across the European Economic Area (EEA).

European expansion

This regulatory milestone aligns with Gemini’s broader strategy to establish a stronger European foothold.

The exchange plans to use Malta as its primary base for its Markets in Crypto-Assets (MiCA) application. A full MiCA license would allow Gemini to provide compliant and secure crypto services throughout the region.

Additionally, obtaining the full investment firm license would enable Gemini to offer regulated futures and options under the Markets in Financial Instruments Directive (MiFID II). This would expand its offerings to include perpetual futures trading across Europe, catering to growing institutional and retail demand.

Mark Jennings, Head of Europe at Gemini, described this approval as a crucial step in the company’s long-term vision. He highlighted the increasing demand for crypto derivatives, particularly among institutional investors, as the market matures.

Gemini also highlighted that this regulatory progress will enhance its service offerings. The perpetual futures will complement its existing products, including its spot exchange, ActiveTrader™, OTC desk, and eOTC trading systems.

European expansion

Gemini’s expansion reflects a larger trend of crypto firms strengthening their European presence.

Over the past months, major exchanges, including Coinbase, Kraken, Crypto.com, and OKX, have announced plans to enter or expand in the region ahead of MiCA’s full implementation.

MiCA, adopted by the European Union in 2023, is the first regulatory framework for digital assets in a major economic bloc.

The framework is designed to standardize regulations across the EU by enhancing consumer protections and reducing regulatory fragmentation. It would also make it easier for crypto firms to operate across multiple jurisdictions under a single regulatory order.