Gemini, the exchange platform headed by the Winklevoss Twins, has chosen Dublin, Ireland as the center of its European operations, according to recent reports.
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New Announcement from Gemini Co-founder
On May 25, Cameron and Tyler Winklevoss declared that Ireland will serve as the company’s European expansion hub.
Cameron Winklevoss said:
“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.”
Prime Minister Pleased with the Announcement
The twins cited Ireland’s strong regulatory framework, extensive talent base, and well-established technological sector as reasons for choosing the country when they met with Prime Minister Leo Varadkar.
According to Varadkar, “this is significant for Ireland as the government focuses on innovation as a driver of growth.”
Winklevoss Twins Bullish on Europe After MiCA
After the EU adopted the new Markets in Crypto-Assets laws (MiCA), which was formally authorized on May 16, Gemini also expects to boost the number of its workers. Following the implementation of the legislative framework, the twins forecast a significant uptick in the cryptocurrency market.
Cameron Winklevoss predicted, “I think you’re gonna get a Cambrian explosion of innovation [in Europe as a consequence of MiCA].”
Gemini Prepares for European Expansion
The ongoing efforts of cryptocurrency exchange Gemini to offer a transparent operational environment for the crypto industry resulted in its expansion in the region. In fact, the exchange has chosen to broaden its scope internationally by founding businesses in six European nations. It was opening in Denmark, Sweden, Portugal, Latvia, Czechia, and Liechtenstein, as reported by TheCoinRise.
It is noteworthy that Gemini’s foray into these emerging markets comes after making an appearance in Ireland, where it obtained the Virtual Asset Service Provider (VASP) license from the Central Bank of Ireland. The exchange was allowed to increase its presence in Ireland and the entire European Union owing to the new license.
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