The Central Bank of Ireland has granted regulatory approval to Gemini, a cryptocurrency trading service provider, to operate in the local market.
In addition, the company became the first registered Virtual Asset Service Provider (VASP) in the country.
The trading firm run by billionaire twins Cameron and Tyler Winklevoss continues to expand its presence in a multinational manner.
In a recent tweet, the company revealed that the latest destination to be given the green light to operate as a virtual asset service provider is Ireland.
It is worth noting that VASP registration was introduced in Ireland last year, which requires companies to comply with anti-money laundering and anti-terrorist financing laws.
Jillian Lynch, Gemini's Head of Ireland and Europe said:
"Settling in the country is a big step, given the company's ambitions and stringent local requirements.
We believe regulation is vital to protect investors and provide a secure experience with digital assets.
Dublin is the European headquarters of Gemini, and we are seeing a lot of interest in cryptocurrency here.
This registration helps customers trust Gemini as a secure and transparent provider".
Research conducted by Gemini earlier this year found that Ireland is the most curious country in the crypto space worldwide.
With nearly 60% of Irish people finding digital assets interesting, while 18% are long-term Bitcoin HODLers.
Despite the recent expansion, the company has had to deal with some significant problems caused by the downturn in the market and the influx of investors.
A month ago, the company said that about 10% of its current employees would be laid off, while the following reports revealed that the company had laid off another 60 workers.
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