HomeCryptocurrencyIreland wins new Gemini European HQ

Ireland wins new Gemini European HQ

The Gemini crypto exchange’s Winklevoss twins have chosen Dublin as the site for its European headquarters.

It comes amid a spate of crypto companies looking to move outside of the US, citing a more scrutinised regulatory environment in the wake of the collapse of FTX.

Earlier in the week, the United Kingdom had been considered as the new location for the exchange. Gemini co-founder Cameron Winklevoss had tweeted: “Very uplifting meeting yesterday with @citylordmayor. There does seem to be real efforts inside the government to make the UK a home of the future. The finest minds in the world are working on crypto and AI. The UK does not want to be left behind.”

But Ireland has taken now the crown, with the Cameron tweeting his meeting with the Irish Taoiseach, Leo Varadkar.

Speaking to The Irish Times, Cameron said: “The Central Bank has a very strong reputation. There’s also a community of technologists and an ecosystem in Ireland, which made a lot of sense. So we did look at a number of different countries in the region. We felt this was the right fit.”

Varadkar has since tweeted: “Congratulations @Gemini – the first firm registered by the Central Bank of Ireland as a Virtual Asset Service Provider. This is significant for Ireland as the Government focuses on innovation as a driver of growth. I wish Gemini every success as they build their team in Ireland.”

He added: “Gemini’s decision to locate in Ireland highlights our competitive offering for the international financial services sector. We take pride in how it has grown from 60 staff in Dublin 30 years ago, to approximately 56,000 people around the country working in finance today.”

Ireland and crypto

In August last year, it was reported that cryptocurrency adoption in Ireland dropped slightly by 2%, according to data by Finder.com, with an estimated 72% of Irish crypto holders men and the other 28% women.

The most popular coins and tokens among Irish crypto owners were reportedly Bitcoin at 35%, Dogecoin at 26% and Ethereum at 23%.

Ireland is already home to many leading US firms, including IBM, Microsoft, Google, Facebook, and Apple.

Jo is an experienced Head of News with an eye for spotting the latest key trends in the market and jumping on them. She has previously worked in New York and London as Editor for two crypto exchanges where she managed large teams of writers covering every aspect of the digital asset space. She has also added feathers to her cap with senior editorial roles at the Financial Times and News UK, which has equipped her with the nous to steer a newsroom through the constantly changing world of crypto. With her passion for breaking news, together with a well-connected network of industry contacts, she is perfectly placed to push the buttons at the helm of the CoinNews headline desk.

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