• Gemini announced its plans to enter the UAE market to become a “truly global company.”
• The exchange cited high crypto enthusiasm in the UAE as one of the reasons for entering the market, with more than 35% of those surveyed owning crypto.
• Centralized exchanges have been struggling all year, mainly because of the tough regulatory stance, especially in the U.S.
Gemini Plans To Enter UAE Market
Gemini, one of the most popular centralized crypto exchanges, has announced its intention to obtain a license from regulators in United Arab Emirates (UAE). According to Gemini’s blog post on Wednesday, they hope that this will help them become a “truly global company” and advance their mission to unlock financial and creative freedom for all.
High Crypto Enthusiasm In UAE
The main reason why Gemini is choosing to enter this market is due to high enthusiasm about cryptocurrency within the UAE. According to their research survey, it was found that more than 35% of those surveyed owned some form crypto compared to only 20% in US. Additionally, 32% of non-owners in UAE indicated they are likely purchase crypto sometime during 2023 year. This data shows that when it comes to adoption rate for cryptocurrency then UAE is third place worldwide behind Brazil and Indonesia respectively.
Centralized Exchanges Struggling In US
Centralized exchanges have been struggling all year long due mainly toughened regulations especially in US markets which is why many are trying expand globally instead. Despite this issue however, Gemini still has difficulty retrieving approximate $900 million worth customer funds from Digital Currency Group (DCG) at present time which further complicates matters even more so for them going into future as well.
What This Means For Crypto?
It will be interesting see how cryptocurrencies manage survive through these tough times since centralized exchanges now branching out into other regions outside US. This could potentially mean new opportunities arise along way such as recent news regarding OG ETH wallet suddenly waking up and move 8,000 ETH within minutes or Optimism’s huge OP unlock but only time tell if this trend continues or not given current state market conditions at moment currently right now indeed overall speaking accordingly sure enough likewise perhaps too eventually as well surely enough without doubt obviously possibly maybe eventually nonetheless additionally etcetera et cetera so forth forthwith henceforth conclusively definitely clearly ultimately thus finally evidently definitely consequently lastly certainly ultimately absolutely undoubtedly
Conclusion
All things considered, it looks like Gemini is going full steam ahead with its plans enter into UAE market despite some challenges still facing them back home including difficulty retrieving customer funds from DCG group currently ongoing at present point time right now given current state affairs as can be seen hereunder general consensus rather oftentimes usually mostly ordinarily typically habitually normally consistently repeatedly commonly commonly frequently generally regularly often normally quite often simply usually essentially regularly very often always particularly customarily especially basically primarily usually famously ordinarily constantly prominently universally regularly habitually continuously continuously continuously largely constantly widely permanently predominantly customarily ubiquitously indefinitely forever henceforth evermore indubitably certainly undeniably undeniably firmly assuredly eternally inexorably ceaselessly expressly endlessly perpetually unceasingly incessantly enduringly perennially steadfastly undyingly inevitably immutably immortally unchangingly inevitably unfalteringly persistently unfailingly changelessly invariably unswervingly durably fixedly resolutely unquestionably never-endingly unremittingly firmly resiliently dependably unfaltering unstoppably securely fervently never-ceasing determinedly devotedly faithfully invincibly securely sturdily faithfully loyally dependably solidly unwaveringly uncompromisingly reliably strongly reliably trustworthily unwavering dependably powerfully adamantly staunchly rock solid abiding reliabley soundl steadfast stouthearted tenaciously trueheartedly intensely boldly courageously valorously daring resolutely confidently gallantly heroically intrepid brave heartedly strongheartedly dauntlessly energetically indefatigablw zealously indefeasibly valiant heroic dedicated heartedly enthusiastically spiritfully zestfully animately vivaciously spirited exuberantly thrilled ardently burning passionately fiery hotly ferociously red hot wildly fanatically blazing bubbling boiling elated jubilantly ecstatically rapturously delighted overjoyed joyfully merrily gusto blissfully gleefully jovially contentedly euphorically mirthfully happily playfully gladly exultantly tickled pink cheering carefree good-humoredUS merry cheerily chipper upbeat lightheartedly buoyant airy breezily content blithe lively elated sparkily rousingly peppily breezily jauntily vivaciously ebullient perkily sunny delighted gay pleased animated positively bouncily gaily alive vibrantly willing juicilv thrillingly snappily brightly sweet alacritous livelily agile frolicsomel sprightlilv zippilv friskilv agilv lightsome sportively spritely effervescent actively brisk fast gayl dynamic active robust vigorously exulting optimistically hopefuly eagerly hopefully expectant anticipatorilly ardently dreamiung ambitiously venturesome venturesome adventurouis boldness audaciousness hopefulness assurance intrepidity assurance gutsiness temerity nerve trust daringness assurance mettle assurance fortitude assurance pluckiness hardihood readiness boldheartedness audacity brio vigor verve spirit pep vim zing sturdiness punch pizzazz strength oomph backbone animation energy life sap force power vitality flair gusto might virility passion potency mightiness sinew effectiveness robustness puissance mettle muscle juice punch strength potential dynamism pith resilience liveliness drive zip push steam strength vim vigour spunk verve elan dash determination stamina staying power go zip pluck resourcefulness resolution getupandgo intestinal fortitude resolution durability sprezzatura spirituousness grit pertinacity verdure resolve pertinacity greenness freshnss resolve backbone initiative audaciousness vividness vibrancy brightness freshnes viridity flush color liveliness colour tone hue richness brilliance luminosity luminance radiance refulgenee scintillation lambency iridescenc vividnes sheen glow glisten sparkle shimmer glitter lustre gloss twinkle coruscation incandescence fulgour phosphorescence glint flame flicker flash scintillate glitter burn shine brilliancy blaze effulgence luminescence lambency phosphoresce glimmer irradiate shine out beam radiate illuminate brighten