The popular Bitcoin advocates, Tyler and Cameron Winklevoss, are reportedly eyeing potential expansion of their New York-based cryptocurrency exchange to the United Kingdom.
Competing with Coinbase
NY-based cryptocurrency exchange Gemini is purportedly eyeing a potential expansion across the Atlantic to the UK, the Financial Times reports, citing sources familiar to the matter.
While no official confirmations were made, Gemini commented on the proposed plans, outlining that:
Gemini continues to explore potential jurisdictions around the globe to provide a best-in-class digital asset exchange and custodian which will enable growth and infrastructure to the entire digital asset community. Although we have no immediate plans, we will always evaluate opportunities that allow the global economy to buy, sell and store digital assets in a regulated, secure, and compliant manner.
A potential move to London would put Gemini in direct competition with the largest US-based cryptocurrency exchange, Coinbase. The latter recently announced that it has launched pound sterling support for customers from the UK across its multiple platforms.
Strong Moves
The Winklevoss twins have been nothing but active lately. Most recently, Live Bitcoin News reported that they have filed a new patent which seeks protection for a solution for storing digital assets, hence highlighting the importance of a proper custody solution for the entire field.
The prominent Bitcoin advocates, however, also revealed that they’ve received NY state approval for the launch of the so-called Gemini Dollar – a stablecoin pegged to the U.S. dollar.
Not all of their initiatives have been successful, though. In July, the U.S. Securities and Exchange Commission (SEC) denied their proposal for a Bitcoin ETF. However, the denial was met with Commissioner Hester Peirce’s public dissent, fueling another wave of positivity among the community that the commodity-backed VanEck/SolidX Bitcoin ETF proposition might get the much-awaited approval.
What do you think of Gemini potentially expanding to the UK? Let us know in the comments below!
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