![]() This is distinct from the Deposit Guarantee Scheme (“DGS”) which is administered by the CBI, which protects the deposits of eligible depositors (up to €100,000 per person per institution) in the event of a bank, building society and/or credit union authorised by the CBI being unable to repay deposits. Safeguarding requirements are in place to protect customer funds if an EMI becomes insolvent. This means that whenever you ask GPEL to redeem your e-money (which is the electronic money available in your Gemini account), the funds securing that e-money will be available. This process is called “safeguarding” and these funds are available only for the purpose of returning funds to you upon your request and these funds cannot be accessed by any third parties, creditors, or banks. GIEL also holds a number of other virtual asset registrations across the European Economic Area (”EEA”) as outlined in the “Our Licenses'' section on the Gemini Trust Centre web page.Īs an EMI, GPEL must hold your money in a segregated bank account where those funds are held separately from GPEL’s own funds in a ring-fenced bank account. Gemini Intergalactic Europe Limited (“GIEL”) facilitates crypto custody and crypto exchange services and is registered with the CBI as a Virtual Asset Service Provider under Section 106A of the Criminal Justice (Money Laundering and Terrorist Financing) Acts 2010 to 2021. ![]() Gemini Payments Europe Limited (“GPEL”), which issues e-money and provides related payment services that facilitate the purchase and sale of crypto using fiat, is regulated as an Electronic Money Institution (“EMI”) by the Central Bank of Ireland (“CBI”). Please see the Digital Asset Insurance section of our User Agreement for more information. ![]() ![]() Gemini maintains insurance coverage against certain types of losses for the crypto that we hold on your behalf in our online hot wallet subject to limitations. Please see the FDIC Insurance section of our User Agreement for more information. and thus may be eligible for FDIC “pass-through” insurance, subject to applicable limitations. dollars in your Gemini Account may be held at State Street Bank and Trust Company, JPMorgan Chase Bank, N.A. ![]()
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