Last year, New York-based cryptocurrency exchange Gemini opened its local office in Dublin, Ireland. It has now been granted a VASP license.
New York-based cryptocurrency trading platform Gemini claims to be the first to be registered as a Virtual Asset Service Provider (VASP) by the Central Bank of Ireland (CBI). Earlier, in February 2022, the company received approval from the CBI to establish an Electronic Money Institution (EMI).
Individuals and institutions in Ireland can now access Gemini's services to buy/sell, exchange and store more than 100 cryptocurrencies, as well as the UK euro and pound sterling.
The e-money license, which Gemini applied for in early 2020, the exchange received in March 2022. The license allows for the issuance of electronic money, the provision of electronic payment services and the processing of electronic payments for third parties. However, it does not allow organizations to operate as an exchange.
As Gillian Lynch, Gemini's head of Ireland and the European Union, commented on the release:
Gemini is founded on the idea of asking for permission, not forgiveness. From day one Gemini has worked with regulators around the world to help shape thoughtful regulation that both protects consumers and promotes innovation.