Gemini, a crypto exchange, has picked Dublin as its European base of operations, with regard to a backdrop of crypto companies aiming to expand beyond United States, as stated by Cointelegraph.
According to Cointelegraph, Cameron and Tyler Winklevoss, founders, Gemini, stated about selecting Ireland to develop the company’s European growth. The Winklevoss brothers, in a meeting with Leo Varadkar, Ireland’s Prime Minister, informed about choosing Emerald Isle because of its regulatory structure, talent pool and technological developments.
Based on Cointelegraph’s information, insights from an August, 2022, research highlighted that approximately 10% of Irish adults surveyed held cryptocurrency. However, the figure went down from 12% during the 2021 bull market. It’s believed that the update hasn’t impacted crypto companies from setting up shop there, including Binance and Kraken, along with blockchain and fintech startups.
“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. We looked at all of the EU as potential entry points and we felt really comfortable with Ireland and the reputation of the regulator, the CBI, as well as the technology community and talent and the ecosystem. So for us, it was an obvious natural fit,” Varadkar commented.
Moreover, Cointelegraph noted that Gemini secured a virtual asset service registration from Ireland’s central bank in July, 2022. Reportedly, the firm is aiming to enhance its numbers post the EU adoption of new Markets in Crypto-Assets regulations (MiCA), which received a May 16, 2023, approval.
(With insights from Cointelegraph)
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