Gemini, a cryptocurrency exchange and custodian, has received in-principle approval from the Malta Financial Services Authority (MFSA) for an Investment Firm license.
Once finalized, the license will allow Gemini to offer regulated crypto derivatives, including perpetual futures, across the European Union (EU) and European Economic Area (EEA) under the Markets in Financial Instruments Directive II (MiFID II).
Gemini: Key Step in European Expansion
The approval is part of Gemini’s broader strategy to expand its services across Europe in 2025. The company recently selected Malta as its regional headquarters and is pursuing a Markets in Crypto-Assets (MiCA) license, which will enable it to continue offering its crypto-related financial services throughout the EU.
“Receiving in-principle approval for an Investment Firm license is a key milestone in our commitment to providing a best-in-class offering for retail and institutional investors,” said Mark Jennings, Gemini’s Head of Europe. “Interest in crypto derivatives, particularly from institutions, has increased significantly in recent years, as crypto matures into a recognized asset class.”
Regulated Perpetual Futures in the EU
Upon securing the final license, Gemini will be authorized to offer perpetual futures contracts to institutional and advanced retail traders under MiFID II.
This regulatory framework governs traditional financial markets in the EU and is designed to enhance transparency, investor protection, and stability.
Perpetual futures are derivative contracts that do not have an expiration date, allowing traders to hold positions indefinitely. They are a popular tool among professional traders seeking exposure to cryptocurrency price movements without holding the underlying assets.
Strengthening Institutional Offerings
The Investment Firm license will expand Gemini’s suite of services, which already includes spot trading for over 90 digital assets, ActiveTrader™ with 80+ trading pairs, as well as institutional-focused services such as an over-the-counter (OTC) desk and the electronic OTC (eOTC) trading system.
With this move, Gemini aims to cater to the growing demand for crypto derivatives, particularly from institutional investors looking for secure and regulated trading venues within Europe.
While in-principle approval is a significant milestone, Gemini must still meet the MFSA’s pre-authorization requirements before obtaining the full license. Additionally, the company is progressing with its MiCA application, which will further solidify its regulatory position in the EU.
