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By Camomile Shumba|Edited by Sheldon Reback, Aoyon Ashraf
Updated May 9, 2025, 3:26 p.m. Published May 9, 2025, 2:51 p.m.
- Gemini, the crypto exchange founded by the Winklevoss twins, secured a MiFID II license from Malta allowing it to offer derivative products across the European Economic Area.
- Crypto exchanges are looking to expand in derivatives trading to boost revenue.
Gemini, the crypto exchange founded by Cameron and Tyler Winklevoss, said it secured a MiFID II license from Malta allowing it to offer derivative products across the European Economic Area.
The license from Malta Financial Services Authority (MFSA) will enable the company to offer perpetual futures and other derivatives across the European Union’s 27 nations plus Iceland, Liechtenstein and Norway, once the required conditions are met, Gemini said Friday.
STORY CONTINUES BELOW
“There are technical and operational steps to ensure we launch these products in a compliant and secure manner, which we hope to do so in the coming months,” a Gemini spokesperson said.
Exchanges have been moving into derivatives as the next frontier for revenue growth. One of the largest crypto exchanges, Coinbase (COIN), on Thursday said it agreed to pay $2.9 billion to buy bitcoin BTC$102,896.03 and ether ETH$2,302.75 options platform Deribit. The purchase gives it an immediate “dominant foothold” in the derivatives space, a note from Benchmark analyst Mark Palmer said at the time.
In Europe, Gemini is following in the footsteps of rival Kraken, which secured a MiFID license in February by buying a Cyprus-based investment firm.
“This is a hugely exciting development in our 2025 European expansion, as it puts Gemini one step closer to offering our derivative products to both retail and institutional users in the EU and the EEA,” the company said.
Read more: In $2.9B Deal, Coinbase Agrees to Buy Deribit to Expand in U.S. Options Market
UPDATE (May 9, 15:26 UTC): Adds Gemini comment in third paragraph.
Camomile Shumba is a CoinDesk regulatory reporter based in the UK. Previously, Shumba interned at Business Insider and Bloomberg. Camomile has featured in Harpers Bazaar, Red, the BBC, Black Ballad, Journalism.co.uk, Cryptopolitan.com and South West Londoner.
Shumba studied politics, philosophy and economics as a combined degree at the University of East Anglia before doing a postgraduate degree in multimedia journalism. While she did her undergraduate degree she had an award-winning radio show on making a difference. She does not currently hold value in any digital currencies or projects.
