Gemini, a crypto exchange founded by Cameron and Tyler Winklevos, said it has secured a MiFID II license from Malta, allowing it to offer derivative products across the European economy.
A license from the Malta Financial Services Authority (MFSA) will allow the company to provide permanent futures and other derivatives to 27 European Union countries, Iceland, Liechtenstein and Norway, once the required conditions are met.
The statement did not say which conditions were imposed, and Gemini did not respond to requests for details per publication time.
The exchange is moving towards derivatives as the next frontier for revenue growth. Coinbase (Coin), one of the largest crypto exchanges, said it agreed to pay $2.9 billion to buy Bitcoin on Thursday BTC$103,119.99 and ether ETH$2,303.45 Optional Platform Delibit. The purchase will immediately give you a “dominant foothold” in the derivatives space, a note from benchmark analyst Mark Palmer said.
In Europe, Gemini follows in the footsteps of rival Kraken, securing a MiFID license in February by purchasing a Cyprus-based investment company.
“This is a very exciting development in the expansion of Europe in 2025, as Gemini is one step closer to providing derivative products to both retail and institutional users in the EU and EEA,” the company said.
Read more: In a $2.9 billion deal, Coinbase agrees to buy DeLibit and expand the US options market
