Gemini also plans to expand its workforce after the EU adopted the new Markets in Crypto-Assets Regulations (MiCA), which were formally approved on May 16.
Cryptocurrency firm Gemini has revealed that Dublin, Ireland, will be the home of its new European headquarters. On May 25, Tyler and Cameron Winklevoss, owners of the crypto firm, told reporters that the established technology and innovation community, a strong regulatory landscape, and a huge talent pool were all factors that influenced their decision to choose Dublin.
The latest move has been dubbed as one that will see the American crypto firm spread its reach across the European continent.
The billionaire investors, who founded Gemini, also met with Leo Varadkar, Prime Minister of the Northwestern European country, stating that Ireland is their doorway into the European Union as they plan to spread their business across the continent.
Cameron Winklevoss stated that the firm reviewed all of the EU as potential entry points, and they felt comfortable with Ireland and the reputation of the regulator. Following the official announcement, the prime minister also took to Twitter to extend congratulations to Gemini for achieving this feat.
Varadkar recognized the profound importance of this recent milestone for the Irish economy and its commitment to fostering innovation.
The crypto exchange currently boasts of a cryptocurrency trading platform in Ireland and 11 other European countries as of the last quarter of 2022, all launched as part of its plans to become a household name in the European crypto scene.
Gemini also already has an established presence in Dublin, where it boasts an operational office comprising a workforce of 12 individuals. This came after Gemini was awarded a virtual asset service provider license from the Central Bank of Ireland in July 2022.
According to the twin brothers, their company has its eyes set on broadening its workforce in Europe after the EU adopted the new Markets in Crypto-Assets Regulations (MiCA), which were formally approved on May 16.
The latest move by Gemini comes as regulatory pressure grows in the United States, something that has seen severe criticism, with some market experts describing it as a war on digital assets.
The crypto firm was recently the subject of a series of charges by the Securities and Exchange Commission (SEC). Cameron Winklevoss described the situation as challenging and accused the SEC of lacking consistency in its actions.
In April, Gemini announced plans to establish an engineering hub in India to leverage its growing pool of tech talent.