- Over 65 nations may currently use Gemini.
- In the year 2020, the UK became the first European country to utilize the exchange.
Despite the sustained decline in cryptocurrency prices, crypto exchange Gemini stated today that it has expanded its services to five additional European countries, increasing its total number of European countries where it operates to 12.
Over a hundred cryptocurrencies, including dozens of DeFi tokens, are accessible to traders in Croatia, Cyprus, Hungary, Romania, and Slovenia on exchange. Euros and Pounds are accepted on the platform. Gemini will make its services in the areas of custody, clearing, trade execution, price discovery, and portfolio management available to financial institutions, fintech startups, and other organizations.
Europe Holds Significance
Over 65 nations may currently use Gemini. According to Gemini’s head of Ireland and EU operations, Europe is crucial to the company’s worldwide expansion efforts.
The move comes after the firm successfully launched operations in Denmark, Sweden, Portugal, the Czech Republic, Latvia, and Liechtenstein in the previous week. In the year 2020, the UK became the first European country to utilize the exchange.
CoinGecko reports that Bitcoin and Ethereum have been trading at year-low prices over the previous three months, so the debut couldn’t come at a worse time for the crypto market. High inflation, expected to hit 85.5% in Turkey this year, has spurred widespread crypto adoption in countries such as Turkey that are close to the EU but are not a part of it. The European Union (EU) has managed to keep inflation under control, with rates sitting around 10%.
However, authorities are scrambling to regulate the market after Terra collapsed earlier this year, and Gemini’s growth may reflect a readiness to cater to investors eager for additional options.
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