Gemini twin Winklewoss cryptocurrency exchange continues to improve its regulated services for UK customers.
On October 12, Gemini announced a partnership with BCB Group, a European cryptocurrency processor that already works with major platforms such as Coinbase, Bitstamp and Galaxy Digital.
BCB Group specializes in corporate payment services, offering business accounts and liquidity in the cryptocurrency market for “cryptocurrency” financial institutions. Earlier this year, the group’s main subsidiary was officially approved by the Financial Conduct Authority as an accredited payment institution (API).
The partnership with BCB aims to give Gemini UK customers faster opportunities to send and receive British pounds. The exchange will be linked to the BCB API, which makes it easier for Gemini to interact with various banks and fiat currencies, as well as reduce the need for manual intervention in transaction processing.
According to Blair Holliday, Gemini Europe’s Chief Compliance Officer, the development will help Gemini “ensure access to a real-time settlement infrastructure that enables us to integrate with our banking partners.” An exchange spokesman told Cointelegraph that UK Gemini customers can deposit and withdraw GBP using faster payments, CHAPS and SWIFT transfers, and link their debit cards to Gemini accounts:
In particular, our integration with the BCB Group API allows us to streamline the processing steps for these bank transfers to and from customer accounts.
This year, Gemini expanded to the United Kingdom, where it was approved as an FCA-registered crypto-activity company in line with its anti-money laundering and terrorism obligations. He also received the license to establish electronic money in the country.