Crypto firm Gemini picks Ireland as European base amid US crypto blues
Crypto exchange Gemini has selected Dublin as the headquarters for its European operations, amid a backdrop of crypto companies seeking expansion outside of the United States.
On May 25, Cameron and Tyler Winklevoss, who founded Gemini in 2014, confirmed that they had selected Ireland as a base to grow the company’s services across Europe.
In a meeting with Ireland’s Prime Minister Leo Varadkar, the twins said that they chose the Emerald Islebecause of its robust regulatory system, deep talent pool and established technology community.
Congratulations @Gemini -the first firm registered by the Central Bank of Ireland as a Virtual Asset Service Provider. This is significant for Ireland as the Government focuses on innovation as a driver of growth. I wish Gemini every success as they build their team in Ireland. pic.twitter.com/Y3WULIqwNc
According to research from August 2022, around 10% of Irish adults surveyed held cryptocurrency. However, the figure was down from 12% during the 2021 bull market. Furthermore, the Irish central bank chief called for a ban on crypto advertising in January.
This hasn’t deterred crypto companies from setting up shop there, including crypto exchanges Binance and Kraken, as well as countless blockchain and fintech startups.
Varadkar commented, “This is significant for Ireland as the government focuses on innovation as a driver of growth.” Cameron Winklevoss told reporters that “Ireland is our entry point into the EU.”
Gemini, which already has a Dublin office with 12 staff, received a virtual asset service provider license from the Central Bank of Ireland in July 2022.
The firm plans to increase its headcount following the EU adoption of the new Markets in Crypto-Assets regulations (MiCA), which
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