Gemini IPO at $2.22B Gets $50M from Nasdaq Ahead of Listing

TLDR

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Gemini to raise $317M in IPO with Nasdaq investing $50M ahead of listing.
Gemini will trade on Nasdaq under the ticker symbol GEMI on September 12.
The exchange gives institutional clients access to Nasdaq’s Calypso platform.
Gemini becomes the third US-listed crypto exchange after Coinbase and Bullish.

Crypto exchange Gemini Space Station has secured a $50 million investment from Nasdaq ahead of its planned initial public offering (IPO) this week. The IPO, set to value Gemini at $2.22 billion, marks a major step for the Winklevoss twins’ firm as it moves toward becoming the third publicly listed crypto exchange in the U.S.

Nasdaq Invests $50 Million Ahead of IPO Launch

Gemini Space Station confirmed it has received a $50 million strategic investment from Nasdaq. This move comes just days before the company’s IPO, which is scheduled for September 12. The company plans to offer 16.7 million shares of its Class A common stock at a price range between $17 and $19 per share.

Reuters reported that Nasdaq’s investment aims to support the company’s long-term growth and strengthen their partnership. The collaboration also allows Nasdaq clients access to Gemini’s custody and staking services. The deal aligns Gemini more closely with mainstream finance, and the firm expects strong demand for its offering.

Gemini will trade on the Nasdaq stock exchange under the ticker symbol “GEMI.” The IPO is expected to raise up to $317 million, which the company plans to use for general expenses, product development, and paying off existing debt.

Strategic Access to Nasdaq’s Calypso Platform

As part of the partnership, Gemini’s institutional clients will be able to use Nasdaq’s Calypso platform. This platform helps institutions manage and track trading collateral more efficiently. Access to Calypso is expected to make Gemini more competitive in servicing large trading firms.

People familiar with the matter said that this access is aimed at improving risk management and trade settlements. Gemini has also positioned itself as a secure and compliant platform, which makes it attractive to both retail and institutional clients.

Nasdaq’s investment signals a growing relationship between traditional finance and the digital asset sector. It also shows continued interest in crypto firms that follow regulatory standards and show sustainable growth.

Gemini Joins Public Markets Amid Growing Crypto Demand

Gemini will become the third publicly traded crypto exchange in the U.S., following Coinbase and Bullish. The exchange holds $21 billion in assets and has processed over $285 billion in trading volume. The IPO comes at a time when U.S. equity markets are showing a rebound, with several tech and crypto-related IPOs gaining strong investor interest.

Earlier, Gemini secured a $150 million credit line from Ripple to support the offering. The deal included borrowing options in RLUSD stablecoin and a partnership to launch an XRP rewards credit card. This card will offer up to 4% cash back in XRP for every purchase.

The company expects that demand for its IPO will be strong, following the success of other crypto-related listings like Circle and Bullish. Gemini’s move to go public also marks a shift in market sentiment toward crypto companies that prioritize regulatory alignment and institutional partnerships.

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