# Winklevoss twins’ crypto exchange is expanding into the UK | Tech News (HT Tech) > Cryptocurrency exchange Gemini Trust Company LLC is expanding into the UK after being granted an electronic-money license from the Financial Conduct Authority. # Winklevoss twins’ crypto exchange is expanding into the UK ## Cryptocurrency exchange Gemini Trust Company LLC is expanding into the UK after being granted an electronic-money license from the Financial Conduct Authority. Aug 20 2022, 23:12 IST ![Follow on Facebook](https://images.hindustantimes.com/tech/static/revamp/images/png/follow-us-facebook.png) ![Follow on Facebook](https://images.hindustantimes.com/tech/static/revamp/images/png/follow-us-facebook-hover.png) ![Share](https://images.hindustantimes.com/tech/static/revamp/images/png/Share.png) ![Share](https://images.hindustantimes.com/tech/static/revamp/images/png/Shareclicked.png) ![Share on WhatsApp](https://images.hindustantimes.com/tech/static/revamp/images/png/whatsapp.png) ![Share on WhatsApp](https://images.hindustantimes.com/tech/static/revamp/images/png/whatsapp-hover.png) ![Share on Twitter](https://images.hindustantimes.com/tech/static/revamp/images/png/twitter.png) ![Share on Twitter](https://images.hindustantimes.com/tech/static/revamp/images/png/twitter-hover.png) ![Share on Facebook](https://images.hindustantimes.com/tech/static/revamp/images/png/facebook.png) ![Share on Facebook](https://images.hindustantimes.com/tech/static/revamp/images/png/facebook-hover.png) ![Bookmark](https://images.hindustantimes.com/tech/static/revamp/images/png/Bookmark.png) ![Bookmarked](https://images.hindustantimes.com/tech/static/revamp/images/png/Bookmarked.png) ![Bitcoin has been highly volatile since its 2009 debut, with few institutional investors seeing it as a viable long-term bet.](https://images.hindustantimes.com/tech/img/2020/09/24/1600x900/5a1f4effe3804678be002bf44f98b0e5-5a1f4effe3804678be002bf44f98b0e5-1_1600928039962_1600928084657.jpg) Bitcoin has been highly volatile since its 2009 debut, with few institutional investors seeing it as a viable long-term bet. (AP) ![Author Photo](https://images.hindustantimes.com/tech/static/revamp/images/png/HTTech-new-circle-logo.png) ### By BLOOMBERG The New York-based firm was founded by Tyler and Cameron Winklevoss, who after claiming Mark Zuckerberg took their idea for a social-networking website to start Facebook Inc., moved on to become entrepreneurs in the digital-asset industry. Gemini will now let U.K. consumers buy products with Bitcoin using regular debit cards as a funding source. Investors in cryptocurrency will similarly be able to fund digital wallets via bank payments such as CHAPS, without incurring foreign exchange fees. “London is one of the birthplaces of modern finance, and has a rich tradition of regulation, but also fosters an environment of innovation,” Tyler Winklevoss said in an interview, adding that regulation and trust are central to the operation of an exchange like Gemini for consumers. Also read click here. Bitcoin has been highly volatile since its 2009 debut, with few institutional investors seeing it as a viable long-term bet. Gemini will be secure, and offer protection against fraud and money laundering, the company said in a statement Thursday. ALSO READ: Winklevoss brothers are Bitcoin billionaires, world’s first In Europe, Gemini will have to compete against a slew of players, some of them regulated by the Financial Conduct Authority as well. In August, the U.K. regulator also approved Archax, an exchange that is due to launch in the fourth quarter. The agency said that all crypto exchanges operating in the country have to register by Jan. 10, 2021. But for now, Gemini is in a select club of registered firms, and it’s also already operational. Gemini is also in the licensing process in Singapore, Winklevoss said. On its home turf, Gemini faces off against its much-bigger rival, Coinbase Inc. It’s also a small exchange internationally, where crypto exchanges located in more loosely regulated jurisdictions rule. Globally, Gemini is the world’s 67th-largest crypto spot exchange, according to rankings site CoinMarketCap.com, which is owned by world’s largest crypto spot exchange, Binance. Gemini is also a New York trust company that’s regulated by the New York State Department of Financial Services. Catch all the Latest Tech News, Mobile News, Laptop News, Gaming news, Wearables News , How To News, also keep up with us on Whatsapp channel,Twitter, Facebook, Google News, and Instagram. 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