Gemini co-founders Cameron Winklevoss and Tyler Winklevoss announced on Tuesday, July 7, 2026, the launch of 0% commission stock trading for U.S. customers. The strategic expansion allows users to trade thousands of U.S. exchange-listed securities directly through the Gemini mobile application as the firm pursues its goal of becoming an “all-in-one financial super app.”
The new service utilizes Nasdaq as the official provider for real-time market data. While Gemini facilitates the user interface and order entry, the trades will clear through Apex Clearing Corporation, which also serves as the custodian. This move places Gemini in direct competition with established fee-free brokers like Robinhood and follows similar diversification efforts by crypto rivals such as Coinbase and Kraken.
Gemini stock trading launch targets financial super app status
The introduction of equities is a central component of Gemini’s plan to offer a unified regulated platform. Cameron Winklevoss, President of Gemini, stated that the company is leveraging over a decade of experience in building financial platforms to expand beyond its cryptocurrency roots. He noted that the addition of stocks enables customers to manage their entire financial lives within the Gemini app.
To support this rollout, Gemini has updated its FINRA broker-dealer registration to operate as an “Introducing Broker.” In this capacity, Gemini Galactic Markets, LLC brings in customers and takes their orders but does not execute trades or hold assets internally.
Instead, these functions are handled by Apex Clearing Corporation, a subsidiary of Apex Fintech Solutions Inc. This structure allows the exchange to scale its traditional securities offering while remaining a member of FINRA and SIPC.
However, the zero-commission service is not yet available nationwide. Residents of Alabama, Arkansas, Illinois, Massachusetts, and Texas are currently excluded from the platform. Additionally, the service remains unavailable to users in Puerto Rico, Washington, D.C., and Guam. Gemini has not specified a timeline for when these jurisdictions might gain access to the stock trading features.
Regulatory milestones and the path to a regulated marketplace
The expansion into equities follows several significant regulatory developments for the New York-based firm. Gemini recently secured both Designated Contract Market (DCM) and Derivatives Clearing Organization (DCO) licenses from the Commodity Futures Trading Commission (CFTC). These approvals allow its Olympus subsidiary to function as a clearinghouse for derivatives, supporting the growth of Gemini’s futures and prediction markets.
These regulatory wins coincide with a notable shift in the firm’s relationship with oversight bodies. In May 2026, the CFTC apologized to Gemini for a previous lawsuit concerning the exchange’s bitcoin futures offering.
CEO Tyler Winklevoss emphasized that the long-term goal is to house a wide range of products—from crypto to equities and derivatives—under a single regulated roof. This shift is critical as Bitcoin exchange supply remains at multi-year lows, prompting platforms to diversify their revenue streams.
The firm continues to navigate a challenging environment for digital asset platforms. While the regulatory outlook has stabilized compared to previous years, Gemini’s infrastructure is now designed to operate as a full-stack marketplace. By integrating traditional NMS securities alongside crypto, the platform aims to provide a more stable experience for retail investors who may be wary of the volatility inherent in pure-play digital asset exchanges.
Financial performance and public market position for GEMI
Despite the aggressive product expansion, Gemini faces a difficult valuation environment on the public markets. The company went public as Gemini Space Station in September 2025 on the Nasdaq Global Select Market. As of July 7, 2026, the company’s stock, trading under the ticker GEMI, was priced at $4.35 per share.
This represents a significant decline from its initial IPO price of $28 per share set on September 12, 2025.
The company’s market capitalization currently sits at approximately $526 million, reflecting a broader cooling of investor sentiment toward high-growth fintech firms. Financial reports suggest a mixed picture of growth and operational costs. While Gemini reported a 42% year-over-year revenue increase in Q1 2026, the quarter still ended with a net loss of $109 million.
This follows a period of heavy investment in the platform’s service lines, such as its credit card, custody, and staking products.
The firm has a history of navigating steep losses while building scale. In Q3 2025, Gemini reported a net loss of $159.5 million, a widening from the $90.1 million loss recorded in the same period a year prior. However, revenue during that same Q3 2025 period doubled to $50.6 million.
The 0% commission model for stocks is expected to further pressure short-term profitability, as the firm will likely need to rely on interest on cash or premium services to monetize the new user base.
Impact of 0% commissions on the competitive fintech landscape
By removing trading fees, Gemini is directly adopting the industry standard set by traditional fintech disruptors. This strategy is essential for attracting a younger demographic that views crypto and stocks as part of a single portfolio. As Ethereum navigates key support levels and institutional interest fluctuates, having a traditional equities baseline could offer Gemini more consistent daily active user numbers.
The integration of Nasdaq market data ensures that the trading experience remains competitive with dedicated stock platforms. For Gemini, the goal is to eliminate the friction of moving funds between different apps.
If a user can rebalance from a tech stock into a digital asset within seconds, the “super app” becomes a more “sticky” ecosystem, potentially lowering the high customer acquisition costs that have plagued the sector.
The success of this pivot will depend on whether Gemini can convert its existing crypto-native user base into active stock traders and whether or not it can successfully cross-sell its higher-margin services. With the company’s stock currently down 86% over the past year, the Winklevoss brothers are under pressure to show that the “all-in-one” model can eventually lead to sustainable net income.