Gemini expands into Europe and becomes the first VASP in Ireland

Gemini has expanded its operations to Ireland, where it is now providing both individuals and institutions with crypto exchange and custody services.

Users may now use both Gemini’s website and mobile application for account creation and cryptocurrency purchases — in EUR or GBP — according to a press release. They may also fund their accounts via debit card, Apple Pay, Google Pay or SEPA transfer. The exchange’s high-performance trading platform, ActiveTrader, is also available.

Additionally, Irish institutions, corporations and the like now have access to “custody, clearing, trade execution, price discovery and portfolio construction services, all in one place.”

Gemini’s European expansion

The move represents a concerted push from Gemini — traditionally thought of as a regulatory-focused North American exchange — into Europe.

The company describes it as “the latest step in the company’s European growth strategy,” which is “built on an approach of proactive and positive engagement with regulators and policymakers.”

Not a surprise for some EU users

The news from Gemini may not come as a surprise to some users in the European Union.

Last Thursday, the crypto exchange sent out emails to some users explaining that it recently received authorization as an Electronic Money Institution and registration as a Virtual Asset Service Provider (VASP) by the Central Bank of Ireland. Notably, Gemini is the first company to receive a VASP registration in Ireland, according to the aforementioned press release.

Last week’s emails also detailed exactly when certain users would have their service provider changed to Irish entities Gemini Payments Limited and Gemini Digital Assets Limited — along with new terms of service and new deposit instructions for transferring EUR and GBP.

© 2022 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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