Gemini Launches Tokenized Stocks in EU
Gemini Expands into Tokenized Stock Trading
Gemini, the cryptocurrency exchange co-founded by Cameron and Tyler Winklevoss, has announced the launch of tokenized stock trading for its European Union (EU) customers. This marks a significant step in bringing traditional financial assets onto blockchain technology.
The initial offering includes tokenized shares of MicroStrategy (MSTR), a company known for its substantial Bitcoin holdings. Gemini plans to add more stocks and exchange-traded funds (ETFs) in the coming days.
Partnership with Dinari
Gemini partnered with Dinari, a firm specializing in tokenizing real-world assets. Dinari recently secured a broker-dealer registration from the Financial Industry Regulatory Authority (FINRA), enabling it to offer tokenized versions of U.S. stocks. This partnership is crucial for Gemini's successful launch.
Growing Trend in Tokenized Securities
The move reflects a broader trend within the crypto industry towards tokenizing traditional financial instruments. Other exchanges, including Coinbase and Kraken, are also exploring this area, highlighting the growing demand for blockchain-based security trading. Robinhood is reportedly developing similar offerings for EU users.
This expansion builds on Gemini's recent acquisition of a MiFID II license from Malta, granting it the ability to offer derivative products across the European Economic Area (EEA).
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