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Winklevoss Twins’ Bitcoin Exchange Gemini Expands to Canada

Last Updated March 4, 2021 4:49 PM
Samburaj Das
Last Updated March 4, 2021 4:49 PM

New York-based bitcoin exchange Gemini, founded by Tyler and Cameron Winklevoss will now begin operations in Canada, as a part of an international expansion program.

Canadians will now have access to a new digital currency exchange in the Winklevoss twins’-led Gemini, a US-based exchange.

In an announcement late yesterday, Cameron Winklevoss revealed that registered users in Canada will be able to trade bitcoin and ether on the ETH/BTC order book.

Cameron Winklevoss wrote:

We are thrilled to announce the expansion of Gemini services to the Great White North! This is just the beginning of Gemini’s international expansion and our tireless pursuit of building a world-class digital asset exchange with global reach.

For now, users will only be able to trade bitcoin and ether on Gemini. A future rollout of its other services will enable users to buy or sell BTC and ETH for USD and vice-versa.

Speaking to Reuters , Tyler Winklevoss spoke of the decision to enable an all-cryptocurrency order book. He stated:

We decided to open first with the bitcoin and ether order book. We think there’s great demand for that; there are a lot of people who own bitcoin, and they don’t have a safe place to store them.

Notably, he revealed that there was no regulatory approval required for Gemini to operate as a digital-assets exchange in Canada.

The Gemini Exchange was notably the first licensed ether exchange in the world after gaining approval from the Department of Financial Services from New York state to offer Ether trading.

Launched in 2015, Gemini gained a charter to operate as a virtual currency exchange without the need for a BitLicense. In being regulated as a fiduciary, Gemini can also offer services to both individual and institutional clients. Furthermore, Gemini can operate nationwide in the United States as a chartered limited liability trust, exempt from having to apply for money-transmitter licenses from the necessary individual states.

Beyond Canada, Gemini’s international expansion program will reportedly  see another foreign country join Canada in the coming days, Tyler Winklevoss revealed.

Featured image from Shutterstock.