Gemini announces the addition of a USD payment channel for European institutions

ChainCatcher news, according to Cointelegraph, the Gemini cryptocurrency exchange is expanding its trading capabilities for institutional clients in Europe by enabling USD payment channels for institutional clients in the UK and Switzerland.

Mark Jennings, Head of Gemini Europe, stated: "We plan to extend USD payment support to institutional clients in the EU in the coming weeks." This feature will also be available to institutional users in Gibraltar, Jersey, Guernsey, and the Isle of Man.

This new feature will allow institutions to deposit and withdraw USD to and from their Gemini accounts for free, and to trade cryptocurrencies directly in USD without the need to convert to GBP or EUR, thereby reducing trading friction.