Gemini: USD payment circuits available for institutional clients in the United Kingdom and EU

Gemini has announced that it has added payment circuits in USD for institutional clients in the UK and EU. In partnership with Bank Frick, the crypto-exchange ensures its users the ability to deposit and withdraw fiat funds without fees. 

Gemini and USD payment circuits available in the United Kingdom and EU

Gemini, the famous crypto-exchange, has announced that it has made USD dollar payment circuits available, also for institutional clients in the UK and the EU.

Specifically, this feature will arrive first for customers in the United Kingdom and Switzerland, and, in the coming weeks, also for all users in the EU. 

In practice, through the banking partner Bank Frick, Gemini is seeking to increase versatility on its platform for all users who do not use the US dollar in real life. 

In fact, thanks to the USD payment circuits on Gemini, users can now make cryptocurrency transactions directly in USD. They will therefore be able to deposit and withdraw in USD and access more than 80 trading pairs in USD. 

The crypto-exchange adds that this feature will be made available also to institutional users in Gibraltar, Jersey, Guernsey, and the Isle of Man.

Gemini and USD payment circuits to offer convenience to its users

The new decision by Gemini aims to create a stable and reliable trading environment. The goal is for users in these countries to obtain greater convenience from the platform.

In fact, the USD dollar payment circuits made available on the crypto-exchange streamline trading activities for users who will pay lower fees. 

At the moment, therefore, it will be the United Kingdom to test the new function of Gemini. 

Not only that, for a limited period of time, the crypto-exchange offers the possibility for the country’s institutions to deposit and withdraw fiat funds using these USD rails without paying any additional fees. 

Always to facilitate users from these countries, then, Gemini has decided to use the payment service of Bank Frink, xPULSE, which should allow for frictionless deposits, even outside of working hours.

The expansion in Europe of the crypto-exchange

At the end of January, the crypto-exchange Gemini had decided to choose Malta as the main hub to comply with the European regulation of MiCA.

The announcement came after in December 2024, Gemini had obtained the license for the virtual financial asset (VFA) service in Malta. 

This decision is part of Gemini’s strategic line to expand into the crypto market of the European Union. 

In fact, in November 2024, The Cryptonomist had interviewed Gillian Lynch, CEO of UK & Europe of the crypto-exchange to talk about their expansion plans in Italy and the United Kingdom.

Lynch had emphasized that Gemini has identified a number of target countries within Europe as potential high-growth markets. Not only that, the crypto-exchange aims to concentrate additional investment, marketing, and product resources for these countries over the next 12 months.