As the value of different cryptocurrencies remains volatile, at least one exchange is expanding its influence. Gemini, the cryptocurrency exchange, has officially announced its ability to complete transactions in Washington State.
The company is a “fully regulated, fully compliant, New York-based digital asset exchange for both individuals and institutions.” With this new change, customers in the state of Washington will be able to buy and sell Bitcoin and Ether with USD.
The company is already fully functional as an exchange for cryptocurrencies in 45 states as well as multiple countries overseas. However, because of fiscal requirements, Washington had remained untapped by the company. This change represents a substantial victory for Gemini.
The process had been lengthy, as it required the state legislatures of both New York and Washington to work closely together to verify Gemini’s viability as a financial institution.
The expansion of cryptocurrency service houses only increases the awareness of the market space for these items. Gemini and other such trading companies are stepping in to fill a void with the needs of the Bitcoin and Ether communities.