Gemini, a cryptocurrency exchange, has partnered with Plaid, open banking, and payments platform, to provide UK consumers the opportunity to purchase cryptocurrency using their bank accounts.

The action emphasizes the growing prominence of cryptocurrencies in the financial ecosystem and encourages more everyday customers to diversify their holdings in digital assets.

Customers won’t need to submit their bank information or pay any additional fees in order to deposit funds into their Gemini accounts thanks to the connection. Users of Gemini can now securely send and receive money through Plaid using Apple and Google Pay, among other methods.

Gemini account holders already utilize Plaid in the US to authenticate themselves, connect to their banks, and make deposits.

“Integrating with Plaid in the UK supports Gemini’s mission to increase the accessibility of crypto to more people around the world. Our UK users can now make payments from their bank accounts in minutes, without having to leave the Gemini app.”

“One of the main barriers to building a digital asset portfolio has always been the issue of how to convert fiat currency into cryptocurrency, for example, by moving money from a bank account into a crypto account. Our ability to offer Gemini users multiple secure payment methods, from Apple Pay, Google Pay, to debit cards and now transfers through Plaid, represents significant progress in solving this problem. We are delighted to continue providing customers with an easier experience to fund their crypto accounts.”

                                                                             Blair Halliday, head of the UK at Gemini.

Plaid announced partnerships with crypto exchanges, including Gemini, Binance.US, SoFi, and Robinhood, earlier this month. The payments platform plans to allow more users to fund their crypto accounts and support businesses in their customer onboarding.