Gemini has been licensed as a virtual asset service provider in Ireland

The New York Cryptocurrency Exchange said it has become the first company to be listed as a Virtual Asset Service Provider (VASP) by the Central Bank of Ireland.

Gillian Lynch, head of Gemini Europe, clarified that the registration as a VASP in Ireland was completed after obtaining an electronic money license (EMI). The license was issued to the exchange by the Central Bank of Ireland a few months ago. Now individuals and organizations in this and other European countries can access the services of the exchange for the sale and storage of more than 100 crypto assets, as well as exchange them for euros and pounds sterling.

“From day one, Gemini has been working with regulators around the world to help shape thoughtful regulation that both protects consumers and fosters innovation,” said Gillian Lynch.

The top manager added that the exchange opened its headquarters in Dublin in 2021. She called Ireland one of the most developed technological and financial centers of the continent, and this is one of the reasons why Gemini will continue to expand its presence in this country.

In June, the exchange fired 10% of its staff due to the fall of the cryptocurrency market and rising inflation. In addition, an internal Gemini document recently surfaced online, according to which the marketplace intends to cut its staff by another 7% to reduce costs.