Crypto Exchange Gemini Affiliate Gains FINRA Broker-Dealer License

by Arnab Shome
  • The platform can now launch ATS to facilitate securities token trading.
  • It has also become a member of FINRA.
FINRA

Gemini Galactic Markets, an affiliate of the crypto exchange, Gemini, is now a member of the Financial Industry Regulatory Authority (FINRA) and has received approval to operate as an SEC-registered broker-dealer.

Announced on Wednesday, this approval will allow the company to legally operate an alternative trading system (ATS) and facilitate the trading of digital asset securities.

Crypto trading has taken over in recent years and is now receiving demand from institutions too. However, the digital asset securities space is still in the early stages. Only a very few regulated companies have started to offer services in the industry.

A Growing Industry

“As the digital asset industry continues to grow, we believe blockchain infrastructure will change the way companies raise money in capital markets, and the ability to provide a regulated venue for the buying and selling of digital assets that are securities will be an important part of the blockchain ecosystem,” the company stated.

In addition, Gemini Galactic has become one of the initial regulated companies in the tokenized securities space. Moreover, it is going to leverage the existing experience and expertise of the crypto exchange, Gemini for operating the trading platform and also for launching new products.

“The digital asset security ecosystem is still developing, and we are excited to be a first mover and to help further develop this space,” the company added.

Unlike crypto trading, the securities token space is heavily regulated and companies need to acquire approval similar to any traditional platform. Furthermore, regulators around the world forced several unregulated platforms to shutter their services.

“Gemini is committed to proactively working with regulators to ensure our customers have as much freedom and choice as possible in accessing the digital asset ecosystem. Gemini Galactic’s broker-dealer registration is an important step in fulfilling that vision, and we’re excited to expand our offerings in lockstep with the growth and maturity of the industry,” it added.

Gemini Galactic Markets, an affiliate of the crypto exchange, Gemini, is now a member of the Financial Industry Regulatory Authority (FINRA) and has received approval to operate as an SEC-registered broker-dealer.

Announced on Wednesday, this approval will allow the company to legally operate an alternative trading system (ATS) and facilitate the trading of digital asset securities.

Crypto trading has taken over in recent years and is now receiving demand from institutions too. However, the digital asset securities space is still in the early stages. Only a very few regulated companies have started to offer services in the industry.

A Growing Industry

“As the digital asset industry continues to grow, we believe blockchain infrastructure will change the way companies raise money in capital markets, and the ability to provide a regulated venue for the buying and selling of digital assets that are securities will be an important part of the blockchain ecosystem,” the company stated.

In addition, Gemini Galactic has become one of the initial regulated companies in the tokenized securities space. Moreover, it is going to leverage the existing experience and expertise of the crypto exchange, Gemini for operating the trading platform and also for launching new products.

“The digital asset security ecosystem is still developing, and we are excited to be a first mover and to help further develop this space,” the company added.

Unlike crypto trading, the securities token space is heavily regulated and companies need to acquire approval similar to any traditional platform. Furthermore, regulators around the world forced several unregulated platforms to shutter their services.

“Gemini is committed to proactively working with regulators to ensure our customers have as much freedom and choice as possible in accessing the digital asset ecosystem. Gemini Galactic’s broker-dealer registration is an important step in fulfilling that vision, and we’re excited to expand our offerings in lockstep with the growth and maturity of the industry,” it added.

About the Author: Arnab Shome
Arnab Shome
  • 6303 Articles
  • 80 Followers
About the Author: Arnab Shome
Arnab is an electronics engineer-turned-financial editor. He entered the industry covering the cryptocurrency market for Finance Magnates and later expanded his reach to forex as well. He is passionate about the changing regulatory landscape on financial markets and keenly follows the disruptions in the industry with new-age technologies.
  • 6303 Articles
  • 80 Followers

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