Gemini launches commission-free stock trading

Gemini now offers commission-free stock trading in most U.S. states, adding thousands of stocks and ETFs to its app. Despite the launch, GEMI stock fell 3.9%.

Gemini has introduced commission-free stock trading for users in most U.S. states, broadening its platform to include thousands of U.S.-listed stocks and ETFs alongside cryptocurrencies. The new feature, available through the Gemini app, offers real-time market data from Nasdaq and uses Apex Clearing Corp. for custody and settlement. However, the service is not available in Alabama, Arkansas, Illinois, Massachusetts, Texas, Puerto Rico, Washington D.C., and Guam. This move is part of Gemini’s strategy to evolve into an all-in-one financial super app, allowing users to manage both digital and traditional assets in one place. The platform now supports fractional share trading, aiming to simplify portfolio management by integrating various investment products. Despite the expansion, GEMI stock dropped 3.9% following the announcement and is down 86% year-over-year, though revenue has grown 39% over the past twelve months. Gemini’s updated FINRA registration enables it to operate as an Introducing Broker, onboarding customers and taking orders without executing trades or directly holding assets.