Gemini Introduces Dollar Transfers for European Institutions

The cryptocurrency exchange Gemini has announced the launch of USD payments for institutional users in the United Kingdom and Switzerland. This was reported by Cointelegraph, citing a company statement.

“In the coming weeks, we plan to expand support for dollar payments for our institutional clients in the EU,” said Mark Jennings, head of Gemini’s European division.

The service will also be available to exchange users in Gibraltar, Jersey, Guernsey, the Isle of Man, and certain countries within the European Economic Area.

For the integration of USD payments, Gemini is partnering with Bank Frick from Liechtenstein. Exchange clients will be able to deposit and withdraw dollars without fees, using instant transfers via the xPulse service.

This feature will allow investors to trade cryptocurrency directly in dollars, avoiding conversion to euros or pounds sterling. Jennings noted that the use of dollar payments will simplify the operations of institutional clients in the crypto market.

The new Gemini features will be available directly on the platform through its own organizations, which have obtained Electronic Money Institution (EMI) licenses. This will enable the exchange to manage payments without relying on third-party partners.

Back in March, Bloomberg reported that Gemini had confidentially filed for an IPO.