Crypto exchange Gemini to soon operate in the UAE

Gemini will “soon” start the process of buying a crypto license to operate in the United Arab Emirates, and the team has met stakeholders throughout the region to learn more about local regulatory requirements, the crypto exchange said late on Wednesday.

Gemini, founded by cryptocurrency pioneers and identical twins Cameron and Tyler Winklevoss, is aiming for the “adoption of crypto globally across 20 countries.” Its push in the UAE comes as the nation is trying to develop virtual asset regulation to attract new forms of business as economic competition heats up in the Gulf region.

“By applying for a license, we will be taking another step towards making Gemini a truly global company,” the exchange said in a blog post.