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Gemini raises USD 400 mln in latest round

Friday 19 November 2021 15:18 CET | News

US-based cryptocurrency exchange Gemini has announced the close of a USD 400 million funding round led by Morgan Creek Digital, bringing the company’s valuation to USD 7.1 billion.

Investors in the funding round included private equity firm 10T and the Commonwealth Bank of Australia. Gemini intends to use the fresh capital for product and market expansion, according to a company announcement.

The company also operates in the United Kingdom with an Electronic Money Institution (EMI) license from the Financial Conduct Authority and in Singapore with an exemption for holding a license as part of transitional arrangements under the city-state’s Payment Services Act.

Earlier in 2021, Gemini announced plans to expand its Asia-Pacific operations with satellite offices in Australia and Hong Kong.

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Keywords: funding, EMI licence, cryptocurrency exchange, crypto asset
Categories: Blockchain & Cryptocurrencies | Cryptocurrencies
Countries: United States
This article is part of category

Blockchain & Cryptocurrencies