Record Trading Volumes
Trading volumes reached $16.4 billion, a multiyear quarterly high, driven by expanding institutional activity and deeper engagement across the platform, with a 45% quarter-over-quarter increase.
Gemini Credit Card Performance
The Gemini Credit Card surpassed 100,000 open accounts with more than $350 million in quarterly transaction volume, more than doubling quarter-over-quarter, and generated $8.5 million in revenue.
Global Expansion and Licensing
Launched operations in Australia, secured MiCA license in Europe, and continued engagement in Singapore for a full MPI license, expanding Gemini's regulatory footprint.
Growth in Services Revenue
Services revenue, including credit card, staking, and custody, accounted for nearly 40% of total revenue, up from less than 30% a year prior.
Balance Sheet Strengthening
Improved capital efficiency through a $150 million credit facility and established a warehouse financing facility for credit card receivables.