Gemini Secures EU Green Light for Crypto Derivatives Platform

U.S.-based cryptocurrency exchange Gemini has won regulatory approval to expand its crypto derivatives business across Europe. The company, founded by twin brothers Cameron and Tyler Winklevoss , said on Thursday it obtained a Markets in Financial Instruments Directive II (MiFID II) license from Malta’s Financial Services Authority (MFSA). The license clears the path for Gemini to offer crypto derivatives, including perpetual futures, throughout the European Union and wider European Economic Area (EEA). “Once we commence business activities, we will be able to offer regulated derivatives throughout the EU and EEA,” said Mark Jennings, Gemini’s head of Europe. The company is now working to meet the final conditions needed to activate trading. The license was granted to Gemini’s Maltese entity , Gemini Intergalactic EU Artemis, on May 8, according to public records from the MFSA. The approval comes amid a broader push by Gemini to establish a long-term foothold in Europe. In January, the exchange named Malta as its strategic hub for complying with the EU’s incoming Markets in Crypto-Assets ( MiCA ) framework. That announcement followed its sixth virtual asset service provider (VASP) registration on the continent, also granted by Malta in late 2024. While the firm has yet to secure a full MiCA license, the MiFID II approval gives it a regulatory route to offer derivatives ahead of MiCA’s full rollout. Gemini’s initial derivatives offering will target more experienced market participants, according to Jennings. Perpetual futures, which are popular among crypto traders for their ability to speculate without expiry dates, will headline the lineup. “We’re focused on meeting the remaining conditions to launch these products in a safe and compliant manner,” he said, adding that the firm is preparing for a gradual rollout in the coming months. The move places Gemini into an increasingly competitive arena. Crypto derivatives, which allow traders to bet on the future price of digital assets, have gained momentum as institutional and retail interest continues to grow. On Wednesday, Coinbase announced a $2.9 billion acquisition of Deribit , one of the world’s largest crypto derivatives platforms. Earlier this month, rival exchange Kraken confirmed plans to buy NinjaTrader for $1.5 billion to expand its own futures offerings. Gemini, while smaller than its U.S. peers in terms of trading volume, is betting that a tightly regulated platform will appeal to European users seeking alternatives to offshore venues that often operate in regulatory grey zones.