Gemini crypto exchange expands functionality: dollar payments without fees
Gemini crypto exchange now offers dollar payments for institutional users. Currently, this service is available to clients from the UK and Switzerland. In the near future, the list of countries will increase, including representatives of the European Union. In addition, the service will be available to customers from Gibraltar, the Isle of Man and a number of other territories.
Crypto exchange launched the service in cooperation with Frick Bank, which is located in Liechtenstein. The functionality allows you to deposit and withdraw money in US currency thanks to the xPulse transfer service. At the same time, no commission is charged.
The new functionality makes it possible for investors to directly trade cryptocurrency in dollars. In addition, now users do not need to convert funds into euros or pounds, which makes the transfer much more convenient.
According to exchange spokesperson Mark Jennings, USD payments greatly simplify transactions for institutional users in the crypto sector.
Gemini has received an EMI licence, which gives it the right to independently manage payment transactions on the platform. This authorises the company to do without engaging third-party service providers.
The expansion of functionality followed the announcement that it was preparing for an IPO. Gemini filed for an initial public offering in March 2025. Investment firms Goldman Sachs and Citigroup are acting as advisors for the preparation and listing.
Trends in the industry
One of the driving factors behind Gemini’s entry into the exchange was the change of power in the US. The Trump administration is very loyal to the crypto industry. This draws investors’ attention to the sector and its leading representatives.
In addition to Gemini, another crypto exchange, Kraken, is planning an IPO. The platform stated that it will hold an IPO in early 2026. It is worth noting that Kraken has previously tried to go public. However, the regulator refused to grant the necessary approvals, leading to a revision of the listing strategy.
With the arrival of the new administration in the US, the regulatory environment for the crypto industry has improved significantly:
1. The authorities have revised legislation and relaxed several regulatory requirements.
2. The SEC has closed several previous cases against cryptocurrency companies.
3. The regulator has dropped claims against Robinhood, Coinbase and Uniswap Labs.
4. The approach to enforcement has changed, creating more opportunities for cryptocurrency market participants.
Gemini aims to strengthen its position not only in the US but also in Europe. The platform pays particular attention to regulatory compliance. As part of this strategy, the exchange has opened a hub in Malta, which allows it to meet the requirements of European legislation, in particular the MiCA regulations. The loyal attitude of the local authorities towards the crypto industry simplifies operations. In addition, the presence in Malta allows Gemini to operate legally in other European jurisdictions.
