Through a single API integration, ClearBank will provide Gemini with secure infrastructure including dedicated account numbers and sort codes, as well as direct access to payment rails, such as Faster Payments and CHAPS. There is growing interest in cryptocurrencies among UK consumers, with the Financial Conduct Authority (FCA) finding more than 1.9 million consumers holding crypto assets. Gemini launched its full services in GBP in October 2020 after the FCA granted the company an Electronic Money Institution (EMI) licence.
With ClearBank providing direct access to payment rails, Gemini’s UK customers can make secure GBP deposits and withdrawals into and out of their accounts in seconds. Customers can store their funds in a safeguarded account, ensuring high levels of regulatory compliance, according to the official press release.
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