Malcolm
07/08 06:38
Gemini launches commission free U.S. stock trading in super app push
Summary
Gemini has launched commission free stock trading for eligible users across most U.S. states through its mobile app.
The exchange has expanded beyond crypto by adding equities to its platform after recent moves into derivatives, prediction markets and AI powered services.
Nasdaq will provide real time market data while Apex Clearing will execute, clear and safeguard customer stock trades.
According to Gemini’s announcement on Tuesday, eligible customers can now buy and sell thousands of U.S. exchange-listed stocks with 0% commissions directly through the Gemini app, although the service is not yet available in Alabama, Arkansas, Illinois, Massachusetts, Texas, Puerto Rico, Washington, D.C., or Guam.
As part of the rollout, Nasdaq has become the exchange’s official provider of real-time market data, while Apex Clearing Corporation will handle custody and trade clearing.
Gemini adds stocks to its growing financial platform
“We have over a decade of experience in building financial platforms. We started with crypto and are expanding to stocks so that customers can manage their entire financial lives right from the Gemini app,” Cameron Winklevoss, Gemini’s co-founder and president, said.
The launch extends Gemini’s strategy of building what it describes as an all-in-one financial platform. Before introducing stock trading, the company had already expanded into prediction markets, derivatives, artificial intelligence tools, staking, custody services and credit cards as it looked to reduce its reliance on spot crypto trading.
Recent regulatory approvals have also supported that expansion. Gemini secured a Commodity Futures Trading Commission license for its Olympus subsidiary to operate as a Derivatives Clearing Organization in April, adding to its existing Designated Contract Market license.
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According to the company, those approvals strengthen its ability to support crypto spot markets, derivatives and prediction products under regulated infrastructure.
Gemini also said it has updated its Financial Industry Regulatory Authority broker-dealer registration to operate as an introducing broker. The updated registration allows the company to introduce customer orders in National Market System securities, while Apex executes, clears, and settles those trades.
“Crypto was just the beginning. Our goal is to bring many financial products, from crypto to equities to derivatives, under one regulated platform,” Tyler Winklevoss, Gemini’s co-founder and chief executive officer, said.
Zero-commission stock trading has already become common across the brokerage industry following the growth of firms such as Robinhood. Companies offering commission-free trading often generate revenue through other services, including payment for order flow, interest earned on customer cash balances, margin lending, premium subscriptions or data licensing, although Gemini has not disclosed how its stock trading business will be monetized.
Crypto exchanges continue adding traditional financial products
Gemini’s latest launch comes as several crypto platforms continue expanding into traditional financial markets. In June, Coinbase introduced an SEC-registered AI investment advisor, announced plans for stock options, expanded prediction markets, and outlined tokenized stock offerings backed one-for-one by underlying shares.
Outside the exchange sector, social media platform X has also been building financial services into its platform. In April, the social media company introduced smart cashtags for users in the United States and Canada, while its Canadian partnership with Wealthsimple enabled stock and cryptocurrency trading directly through the app as part of Elon Musk’s long-term “everything app” plans.
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