The Winklevoss twins’ cryptocurrency exchange Gemini will apply for a broker-dealer license from the Financial Industry Regulatory Authority (FINRA) in a bid to offer traders cryptocurrency securities.





Gemini Applies For Crypto Securities Trading





Just two months after popular cryptocurrency exchange Coinbase made its exit, Gemini has claimed that it will open an office in Chicago to meet “growing institutional demand.” The news was first announced by Tyler Winklevoss in a Medium post published on June 27.





On July 2, CoinDesk broke the news that Gemini was seeking a broker-dealer license. If approved, the move would be the first step towards the exchange becoming an Alternative Trading System--a designation necessary to offer clients the ability to trade securities according to US law.





Such approval would also consolidate Gemini’s current operation. The exchange had previously partnered with Harbor, a tokenized securities platform that allowed institutional investors to buy securities using Gemini’s native stablecoin, the Gemini Dollar (GUSD).

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