Crypto Exchange Gemini Expands In Europe Ahead Of IPO

(MENAFN- Yolo Wire) %Gemini , the crypto exchange run by twin brothers Tyler and Cameron Winklevoss, is expanding in Europe ahead of its upcoming initial public offering (IPO).

The company has launched %Ethereum (CRYPTO: $ETH) and %Solana (CRYPTO: $SOL) staking, along with perpetual futures contracts, for customers in the European Union (EU).

The launch comes after Gemini recently received authorization to operate in the EU under the Markets in Crypto-Assets Regulation (%MiCA ).

Gemini Staking allows users to earn rewards on their holdings of Ethereum and Solana with no minimum amounts required.

The rewards vary for Ethereum and are up to 6% for Solana, said Gemini in a news release.

The new derivatives product, called "Gemini Perpetuals," offers contracts denominated in U.S. dollars, plus up to 100 times leverage with no expiry date.

The expansion comes as Gemini focuses on Europe as a growth market for crypto trading and regulated investment products.

The crypto exchange also recently expanded its staking services in the United Kingdom, allowing all customers to earn rewards on Ethereum and Solana directly through its platform.

The push in Europe also comes ahead of Gemini's IPO. The company plans to list on the Nasdaq exchange under the ticker symbol "GEMI" by year's end.

In its last round of private financing, Gemini was valued at $7.1 billion U.S. The company is expected to raise about $400 million U.S. from its stock sale.

The %Cryptocurrency exchange was founded by Cameron and Tyler Winklevoss, who famously claimed that Mark Zuckerberg stole their idea for Facebook while they were classmates at Harvard University.

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