Ireland’s Central Bank Grants Gemini An E-money License.

According to The Irish Times, Gemini, launched by the Winklevii twins Tyler and Cameron, became the first fintech company to get an Irish license since October 2020 on Monday (March 21, 2022). The crypto exchange first requested the license in 2020, partly due to the impact of Brexit. Later in 2021, Gemini opened an office in Dublin and appointed Gillian Lynch, former chief strategy officer, to manage operations there.

Gemini can now create electronic money in Ireland thanks to the license. The crypto exchange has a comparable license from the UK’s Financial Conduct Authority (FCA). In addition to Gemini, other firms with the e-money license include financial services provider Stripe, social media giant Meta, and internet titan Google.

Meanwhile, top US-based cryptocurrency exchange Coinbase has a foothold in Ireland, and Binance, the world’s largest crypto exchange by trading volume, previously stated that it was considering Ireland as a location for a worldwide headquarters.

However, the Central Bank of Ireland stated in February 2022 that it was highly improbable that the apex bank would permit cryptocurrency exposure for retail investors.

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