Cryptocurrency exchange Gemini has selected ClearBank, a cloud-based clearing bank, for financial services in the UK.
Subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news.
According to an official announcement, ClearBank will provide Gemini with infrastructure though a single API integration, including account numbers, sort codes and direct access to payment rails, such as Faster Payments and CHAPS.
Charles McManus, ClearBank's CEO, says digital currencies are becoming more attractive as UK consumers "explore new ways to store and invest their money."
"By providing access to accounts and payment rails we are helping Gemini to deliver a best-in-class customer experience that addresses some of the biggest pain points faced by consumers," McManus added.
Owned by the Winklevoss brothers, Gemini launched its service in the UK in September 2020. Residents in the UK can make deposits with pounds sterling through debit cards or bank transfers to buy cryptos on the platform.
The cryptocurrency-focused platform decided to expand its services to the UK after receiving an Electronic Money Institution (EMI) license from the UK's Financial Conduct Authority (FCA) and registering as a crypto asset company as part of the regulator's fifth anti-money laundering directive (AMLD5).
Access more than 50 of the world's financial markets directly from your EXANTE account – including NASDAQ, London Stock Exchange and Tokyo Stock Exchange.