New York-based crypto trading platform Gemini claims to be the first one to get registered as a virtual asset service provider (VASP) by the Central Bank of Ireland (CBI). Earlier in February 2022, a company received an electronic money institution (EMI) authorization from the CBI.
The e-money license, for which Gemini applied in early 2020 and received in March 2022, has been allowing it to issue electronic money, provide electronic payment services and handle electronic payments for third parties. However, it doesn’t allow entities to operate as an exchange.
Gemini opened its Dublin office in early 2021 and hired Gillian Lynch, a former executive at the Irish banking platform Leveris and Bank of Ireland, as head of Ireland and EU. Kraken and Ripple have also selected the country as their European base, and Binance opened three subsidiaries in Ireland in September.