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Gemini Receives Electronic Money License in Ireland

Gemini Receives Electronic Money License in Ireland

One of the largest cryptocurrency exchanges Gemini has secured its e-money license in Ireland two years after applying for it.

Based on a news post by a local media outlet, Gemini will be able to offer e-money services in the Republic of Ireland after receiving a license from the country's central bank. It will be the fourth FinTech company to receive the license amongst the social media conglomerate Meta (formerly Facebook), Google, and Stripe. 

Currently valued at approximately $7.1 billion, Gemini will have its second crypto license in the British Isles, with the previous one acquired from the United Kingdom’s Financial Conduct Authority (FCA).

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Founder of Fintech Ireland Peter Oakes was highly in favor of Gemini beginning its operations in Ireland since there are US-based financial institutions working within the country that have an interest in offering digital asset services for both institutional figures and regular consumers. He added:

"The combination of an e-money authorisation and a virtual asset services provider registration should provide Irish consumers and corporates a fuller range of Gemini’s digital assets and non-fungible tokens service such as buying and selling, interest on accounts, payments, credit cards and e-wallets."

With another crypto giant Coinbase already established in Ireland, Gemini, according to Oakes, will be a nice addition to the country’s digital asset market and will attract more FinTech firms to start their operations in Ireland.

Aaron S., Editor-In-Chief
Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.
With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.
Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.
Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.



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