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Gemini Exchange Is Using ClearBank for UK Banking Services

Gemini Exchange Is Using ClearBank for UK Banking Services

ClearBank says it has been chosen by the Gemini cryptocurrency exchange to provide its U.K. banking services.

  • 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.