The Winklevoss-owned crypto exchange Gemini Trust Co. will establish its European headquarters in Dublin, Ireland.
US-based Gemini announced it will run its European operations out of Dublin, Ireland. Cameron Winklevoss shared the news via his Twitter feed on Thursday as American crypto exchanges scramble to widen operations amid the intensifying regulatory crackdown in the US.
Bloomberg reports Gemini cited Dublin’s thriving start-up culture as a pull factor for the exchange to set up its European operations there. After the European Union’s Markets in Crypto Assets (MiCA) regulation was approved last week, several crypto firms are considering a shift away from the US.
Gemini Is The First Crypto Exchange To Register As A VASP In Ireland
The PM further said Gemini’s decision to establish its headquarters in Ireland points towards the Irish government’s dedication to innovation.
Gemini’s decision to locate in Ireland highlights our competitive offering for the international financial services sector. I wish Gemini every success as they build their team in Ireland.
In July 2022, Gemini became the first cryptocurrency exchange to register as a Virtual Asset Service Provider (VASP) by the Central Bank of Ireland. The exchange also secured the Bank’s Electronic Money Institution (EMI) license in February 2022.
Gemini Launches Offshore Crypto Derivatives Exchange
Less than a month ago, Gemini launched Gemini Foundation, an offshore cryptocurrency derivative platform. The new exchange launched in 30 countries but is not available to US, UK, or EU users.
Gemini said the platform would allow users to begin trading with Bitcoin perpetual contracts, denominated in Gemini Dollar (GUSD) and offers 100x leverage.