The American cryptocurrency exchange Gemini received an electronic money license from the Central Bank of Ireland, which will allow the site to operate in the country.
Cryptocurrency exchange Gemini, founded by twins Tyler and Cameron Winklevoss, has become the first fintech company to receive an e-money license from the Irish regulator since October 2020, according to The Irish Times.
The Irish Times journalists turned to Peter Oakes, an expert and founder of Fintech Ireland, for comment. Oakes said the license would allow Gemini to transact crypto assets in Ireland, just like it does in the UK. Recall that in 2020, the exchange received a similar license from the UK Financial Conduct Authority (FCA).
Gemini said it applied for a license from the Central Bank of Ireland back in 2020. Last year, the firm opened an office in Dublin and appointed Gillian Lynch, a former chief strategy officer at Leveris, to lead the division.
“Gemini’s approval by the CBR is a testament to the rigorous standards of our customer protection and compliance programs. We look forward to providing our safe and easy services to individuals and organizations in the Irish market and across Europe,” said Lynch.
Recall that in Ireland there is already a direct competitor of Gemini – the Coinbase exchange. In addition, in October last year, Binance CEO Changpeng Zhao announced that his company will open several headquarters, and one of them may be located in Ireland.
Source: Bits
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