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Gemini Exchange Is Using ClearBank for UK Banking Services
Gemini announced it was expanding into the United Kingdom in late September.
Updated May 9, 2023, 3:13 a.m. Published Nov 19, 2020, 2:52 p.m.
ClearBank says it has been chosen by the Gemini cryptocurrency exchange to provide its U.K. banking services.
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- U.S.-based Gemini had announced in late September that it was expanding “fully” into the United Kingdom, offering trading and custody services.
- ClearBank said in a press release Thursday it is providing Gemini users with account numbers and sort codes via a single API.
- It is further bringing the exchange access to U.K. payment rails, such as Faster Payments and the Clearing House Automated Payment System, known as CHAPS.
- Gemini launched in the U.K. after being awarded an Electronic Money Institution (EMI) license from the Financial Conduct Authority.
- The "cloud-based" challenger bank said it was able to offer Gemini users pound sterling deposits and withdrawals "in seconds" using Faster Payments.
- “Gemini is ... one of the first crypto firms ClearBank has worked with, based on its exemplary approach to compliance and innovation," said ClearBank CEO Charles McManus.
See also: Gemini Exchange Building ‘Wrapped Filecoin’ for the Ethereum Network
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