Gemini, the cryptocurrency exchange of billionaire twins Cameron and Tyler Winklevoss, plans to apply for a digital asset license in the UAE.
In a post on Twitter on Thursday, Gemini said, The request is our first step towards providing customers in the UAE and abroad with a safe and easy-to-use platform to transact cryptocurrency, adding that it is another step to making Gemini a truly global company.
Gemini recently created a non-US crypto derivatives platform, and in April revealed plans to continue growth in Asia. That platform was one of several US businesses with digital assets that have been the target of legal action by the US Securities and Exchange Commission. Regulatory tightening prompted a search for opportunities outside the United States.
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The exchange is also embroiled in an ongoing bankruptcy dispute over Genesis Global Capital - the failed lending firm that was active in the crypto sector. More than 200,000 users of Gemini's Earn software have funds locked into Genesis property due to a service agreement between the two companies.
Separately, Crypto.com said Thursday that it had obtained a license from the Monetary Authority of Singapore, a year after receiving initial approval.
