Gemini, the crypto exchange founded by the Winklevoss twins, has expanded its European operations with Ethereum and Solana staking services and USDC-denominated derivatives.
Summary
- Gemini launched ETH and SOL staking and USDC perpetual contracts in the European Economic Area.
- The expansion follows regulatory approvals under Malta’s MiCA in August and the EU’s MiFID II in May.
- The move comes shortly after Gemini filed a U.S. IPO, aiming to raise $317 million with a potential valuation of $2.22 billion.
Gemini debuts ETH and SOL staking
Gemini, a crypto exchange founded by Winklevoss twins, has launched staking services for Ethereum (ETH) and Solana (SOL) in the European Economic Area, while also offering perpetual contracts denominated in the USD Coin (USDC).
“As crypto adoption grows, there is increasing demand for alternative, risk-managed financial instruments, and derivatives allow users to execute complex strategies to gain long or short exposure to crypto,” Gemini’s head of Europe, Mark Jennings, told Cointelegraph.
The rollout of these services in the EEA comes after Gemini secured approval under Malta’s Markets in Crypto-Assets Regulation in August, following its earlier authorization under the Markets in Financial Instruments Directive (MiFID II) in May. These regulatory clearances enabled Gemini to provide a full range of products in the EU, including spot trading, staking, and derivatives.
Furthering their European ventures, the Winklevoss twins’ backed Bitcoin treasury firm, Treasury, is set to go public on Euronext Amsterdam through a reverse merger with MKB Nedsense, pending shareholder approval.
The expansion of its service suite in the EEA comes shortly after Gemini filed a Form S-1 for a U.S. initial public offering, seeking to raise up to $317 million through the sale of shares.
The IPO positions Gemini at a potential valuation of $2.22 billion, with shares priced between $17 and $19 each. The company plans to sell 16.67 million shares under the Nasdaq ticker GEMI, with Goldman Sachs and Citigroup acting as lead bookrunners.
