The Gemini Cryptocurrency Exchange submitted an application to the US Financial Institutions Regulatory Agency (FINRA) in order to obtain a broker-dealer license.
Obtaining this license is the first step towards the status of an approved Alternative Trading System (ATS), through which clients of the exchange can legally exchange digital securities.
Gemini has previously entered into an agreement with the Harbor tokenized securities platform. As part of this partnership, customers of the platform will be able to buy securities, as well as receive dollar dividends with the help of steylcoin GUSD.
“It’s very easy to work with the Gemini team and we have joined forces to get approval from regulators and solve the problems of institutional investors in the market,” said Harbor chief marketer Kevin Young.
The exchange is expected to offer trading in digital securities linked to cryptocurrencies. At the same time, the exchange plans to provide on its platform the opportunity to trade in securities of third-party platforms, such as Harbor.
Recall that in April of this year, Gemini added full support for SegWit addresses, which should reduce the average transaction size.
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