Gemini chooses Ireland as its hub of operations in Europe for its crypto services.

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By Degen Lipsa

In contrast to other cryptocurrency companies seeking to expand outside of the US, Gemini, a cryptocurrency exchange, has chosen Dublin as its operational headquarters in Europe.

Cameron and Tyler Winklevoss, the co-founders of Gemini, reportedly made a statement on their decision to support the company’s European base development by choosing Ireland. At a meeting with Prime Minister Leo Varadkar, the Winklevoss brothers gave their reasons for picking Ireland, noting the nation’s legal system, talent pool, and technological achievements.

According to research findings published in August 2022, 10% of the Irish people surveyed held Bitcoin. But it dropped from 12% during the 2021 bull market. According to reports, the change had little impact on the establishment of new blockchain and fintech companies as well as cryptocurrency enterprises like Binance and Kraken.

Due to the government’s emphasis on innovation as a growth engine, this is significant for Ireland. We enter the EU through Ireland, claims Cameron Winklevoss. We considered the entire EU as a potential entry site, but we felt most comfortable in Ireland due to its reputation as a regulator, the CBI, as well as the talent pool and atmosphere. Therefore, it was obvious to us that it was a clear match.

Additionally, Gemini got a virtual asset service registration from the Irish central bank in July 2022. When the EU adopts new Markets in Crypto-Assets legislation (MiCA), which was approved on May 16, 2023, the company reportedly aims to grow its workforce.

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