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2020-10-13

Crypto Exchange consolidates services for UK clients

The twin Winklewoss crypto exchange, Gemini, continues to consolidate its regulated services for customers in the UK.

On October 12th Gemini announced its partnership with BCB Group, a European crypto processor that already works with major platforms such as Coinbase, Bitstamp and Galaxy Digital.

The BCB Group is focused on institutional payment services and offers business accounts and crypto market liquidity for "crypto-involved" financial institutions. The Group's main subsidiary was officially approved by the Financial Conduct Authority as an authorised payment institution (API) earlier this year.

The cooperation with BCB is aimed at providing Gemini customers in the UK with faster options to send and receive British pounds. The exchange will be combined with the BCB API, which will simplify Gemini's interaction with different banks and fiat currencies, and reduce the need for manual intervention in processing transactions.

This development will help Gemini "secure real-time access to the settlement infrastructure, enabling us to integrate with our banking partners," says Blair Halliday, Director of European Compliance. A spokesman for the stock exchange said that Gemini's UK customers can deposit and withdraw pounds through Faster Payments, CHAPS and SWIFT transfers, and link their debit cards to Gemini accounts.