Gemini secures electronic money issuer licence in Ireland

The cryptocurrency exchange founded by the Winklevoss twins, Gemini, has received an electronic money issuer licence from the Central Bank of Ireland. The company was authorised on 14 March 2022, according to the regulator’s register.

The Central Bank’s register lists the affiliate company Gemini Payments Limited. Similar licences are held by Stripe, Meta (formerly Facebook), Google and Coinbase.

Gemini filed for a licence in early 2020, after Brexit, in the United Kingdom, where the company accredited by FCA, outside the European Union. In 2021 the platform opened an office in Dublin and hired former Leveris chief strategy officer Gillian Lynch as CEO of the local unit.

According to the Central Bank of Ireland’s site, the regulator’s permission will allow the bitcoin exchange to issue electronic money on the country’s territory under EU Regulation of 2011.

In an interview with The Irish Time, former Central Bank official and founder of Fintech Ireland, Peter Oakes, noted that in his view Gemini would later seek a local VASP licence. The latter would allow the company to provide a full range of services.

The Central Bank of Ireland’s register lists no VASP.

Recall that in January 2022 Gemini acquired trading technology provider Omniex and cryptocurrency portfolio management platform BITRIA.

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