Gemini, founded by the Winklevoss twins Cameron and Tyler, has announced the expansion of its services in the United Kingdom. The company has launched its cryptocurrency lending service for Ethereum in the UK through Gemini Staking Pro.
Gemini Staking Pro allows institutions and high-net-worth individuals to become Ethereum validators by locking at least 32 Ether (ETH), which is approximately $60,000 at the current time. The institutional staking program for Ethereum is provided by Gemini Trust Company through the Gemini online interface.
Gemini Staking Pro is currently the only service available in the United Kingdom, with institutional staking exclusively operated in the country, according to Gemini Support. Gemini’s staking services are currently operational in several countries, including the United States, Singapore, Hong Kong, Australia, Brazil, and over 30 other countries.
It should be noted that Gemini’s cryptocurrency lending services are not regulated by the Financial Conduct Authority (FCA) in the UK. Gemini has also announced that it will compensate stakers for penalties in case of errors or loss of staked assets.
This move comes as Gemini seeks to expand globally, although the company is currently facing a lawsuit in the United States for alleged securities regulation violations through its lending platform known as Gemini Earn. However, the company continues to enhance and develop its services to provide the best possible experience for users and institutions interested in cryptocurrencies.