Gemini Selects Malta as Hub for MiCA Framework

Gemini, the crypto exchange backed by the Winklevoss twins, has obtained a new license in Malta, which will also serve as its hub for the Markets in Crypto-Assets (MiCA) framework, the company announced today (Monday).

Malta Is Emerging as a MiCA Hub

The crypto exchange disclosed that it decided to establish Malta as its MiCA hub after securing a Virtual Financial Assets (VFA) Service Licence from the island's regulator last December. This license was its Virtual Asset Service Provider registration.

The announcement emphasised that the exchange chose Malta due to its “proactive approach to fostering innovation among fintech and digital asset companies, which presents an ideal environment for Gemini to drive our European operations.”

The decision to make Malta the hub for MiCA followed the full implementation of European regulations at the end of 2024. While the initial phase of the regulations, covering stablecoins, came into effect in mid-2024, broader crypto transactions were brought under its scope with the full implementation.

“MiCA is a much-needed regulatory development for the European crypto community,” said Mark Jennings, Gemini’s Head of Europe.

“Our decision to establish Malta as our MiCA hub reflects our commitment to upholding regulatory standards, advancing innovation, and shaping the future of digital assets in Europe. We hope that it serves as a blueprint for crypto regulation globally.”

MiCA Reshaping Crypto

The introduction of MiCA has prompted all crypto companies to assess the compliance of their products within the bloc. Many exchanges have delisted non-compliant stablecoins, while others are designating their preferred operational hubs. Additionally, MiCA regulations might indirectly impact third-party vendors in the crypto industry.

Finance Magnates previously reported that Gemini secured a VASP registration in France. This allowed clients to deposit, trade, and store digital assets on the platform through both web and mobile applications. Payment options include local methods such as EUR and GBP, with support for debit cards, bank transfers, and Apple Pay.

Gemini is also focusing on its expansion in Asia and received an in-principle license from Singapore’s regulator last year.