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.
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.
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