Gemini has taken a major step towards expanding in Europe after securing in-principle approval from the Malta Financial Services Authority. This pre-approval moves the crypto exchange closer to offering regulated investment services across the European Union.

Once fully authorised, the Investment Firm licence will allow Gemini to provide futures and options under the EU's MiFID II framework. Mark Jennings, Gemini's head of Europe, highlighted growing institutional interest in crypto derivatives, calling the milestone a crucial step in delivering a top-tier platform for investors.

With Malta as its EU hub, Gemini is following other major platforms like Crypto.com and Bitpanda, which recently gained MiCA approvals. As the exchange continues its regulatory journey, reports suggest it is also considering an initial public offering.