TLDR:
- Gemini received in-principle approval from Malta’s financial regulator for an investment firm license, positioning Malta as its EU hub for MiCA application
- Upon full approval, Gemini will be able to offer regulated futures and options trading under MiFID II across the European Economic Area
- The expansion aims to meet growing institutional demand for crypto derivatives trading in Europe
- The move is part of Gemini’s broader 2025 European expansion strategy, with plans to offer perpetual futures contracts
- Major exchanges including Coinbase, Kraken, Crypto.com, and OKX have also announced European expansion plans ahead of MiCA implementation
Cryptocurrency exchange Gemini has received in-principle approval from the Malta Financial Services Authority (MFSA) for an investment firm license, the company announced on February 11, 2025. This approval marks a key step in Gemini’s plan to expand its services across the European Economic Area (EEA).
The Malta approval positions Gemini to offer regulated cryptocurrency services throughout Europe. The company has selected Malta as its primary base for its Markets in Crypto-Assets (MiCA) application, which would allow it to operate across the European Union under a standardized regulatory framework.
Mark Jennings, Head of Europe at Gemini, shared details about the approval in a company blog post. He explained that once the full license is granted, Gemini will be able to provide perpetual futures contracts and options trading under the Markets in Financial Instruments Directive II (MiFID II) regulations.
The expansion comes as Gemini sees increasing demand for cryptocurrency derivatives trading, particularly from institutional investors. The company plans to add these new trading options to its existing product lineup, which includes spot exchange services, ActiveTrader™, over-the-counter (OTC) desk, and eOTC trading systems.
The regulatory approval process in Malta represents part of Gemini’s larger European expansion strategy for 2025. The company aims to build a stronger presence in the region while ensuring compliance with local regulations.
MiCA, which was adopted by the European Union in 2023, creates the first comprehensive regulatory framework for digital assets in a major economic zone. The framework began full implementation at the end of 2024, establishing standard rules across EU member states.
The new regulations aim to protect consumers and reduce differences in rules between countries. This standardization makes it easier for crypto companies to operate across multiple European jurisdictions under one set of regulations.
Other Companies Expanding in Europe
Gemini’s move reflects a broader trend in the cryptocurrency industry, as many major exchanges work to expand their European operations. Companies including Coinbase, Kraken, Crypto.com, and OKX have announced plans to either enter or grow their presence in the region.
Several companies have already received full MiCA licenses to operate in Europe. These include Bitpanda, Boerse Stuttgart Digital, Circle, Coinbase, Crypto.com, MoonPay, and OKX.
The investment firm license, once fully approved, will allow Gemini to offer futures and options trading to both retail and institutional customers across Europe. This expansion of services aims to meet the growing demand for crypto derivatives in the region.
Gemini’s current product offerings include its spot exchange for direct cryptocurrency trading. The platform also provides institutional-grade services through its OTC trading desk, which handles large volume trades outside the regular exchange.
The ActiveTrader™ platform offers advanced trading features for experienced users, while the eOTC system provides electronic trading solutions for institutional clients. These existing services will continue alongside the planned addition of derivatives trading.
The Malta approval process includes several stages, with the in-principle approval representing an early but important step. Gemini will need to meet additional requirements before receiving the final investment firm license.
The company has not announced a specific timeline for launching its new services in Europe. However, the regulatory approval process and subsequent operational setup typically take several months to complete.
