{"id":226239,"date":"2022-03-22T22:00:12","date_gmt":"2022-03-22T22:00:12","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=226239"},"modified":"2023-10-21T19:54:33","modified_gmt":"2023-10-21T18:54:33","slug":"winklevoss-gemini-payments-obtains-e-money-operator-license-in-ireland","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/winklevoss-gemini-payments-obtains-e-money-operator-license-in-ireland\/","title":{"rendered":"Winklevoss\u2019 Gemini Payments obtains e-money operator license in Ireland"},"content":{"rendered":"

Gemini Payments, an affiliate entity of crypto exchange Gemini led by billionaire investor twins Cameron and Tyler Winklevoss, has been granted an electronic money (e-money) operator license by the Central bank of Ireland.<\/p>\n

According to the regulator\u2019s records<\/a>, the corresponding application was approved on March 14, allowing Gemini Payments Limited \u201cto issue e-money in accordance with the European Communities (Electronic Money) Regulations 2011, as amended (EMR).\u201d<\/p>\n

In total, there are now 18 institutions with such a license in Ireland. Other well-known major companies, including Stripe, Facebook, and Google, have also obtained similar permits in the past.<\/p>\n

\"Gemini
Gemini Payments is now a licensed e-money operator in Ireland<\/figcaption><\/figure>\n

Per the The Irish Times\u2019<\/i><\/a> report, Gemini first applied for the e-money license in early 2020. Last year, the company opened an office in Dublin and hired Gillian Lynch, a former chief strategy officer at financial services provider Leveris, to lead it.<\/p>\n

\u201cGemini doesn\u2019t provide services in Ireland [yet] but residents in other member states can open accounts,\u201d Peter Oakes, a former Central bank enforcement director and founder of Fintech Ireland, told the outlet.<\/p>\n

\u201cAn interesting play for Gemini\u201d<\/h2>\n

Further, the combination of an e-money license and a virtual asset services provider [VASP] registration \u201cshould provide Irish consumers and corporates a fuller range of Gemini\u2019s digital assets and non-fungible tokens service such as buying and selling, interest on accounts, payments, credit cards and e-wallets,\u201d he added.<\/p>\n

Notably, there are no officially registered VASPs in Ireland at the moment, according to the Central bank\u2019s registry.<\/p>\n

\u201cAn interesting play for Gemini in Ireland could be institutional wealth management and custody. Many large financial institutions, especially U.S. banks operating in Ireland, have a strong interest in digital assets for both themselves and their clients,\u201d Oakes inferred. \u201cThey generally segregate their trading and investment activities from the very specialized but fairly lucrative pricing and custodial responsibilities of digital assets.\u201d<\/p>\n

As CryptoSlate<\/i> reported, countries across the globe continue to embrace cryptocurrencies. Just yesterday, the Government of Malaysia proposed to adopt Bitcoin<\/a> and other digital assets as legal tender.<\/p>\n","protected":false},"excerpt":{"rendered":"

Gemini Payments, an affiliate entity of crypto exchange Gemini led by billionaire investor twins Cameron and Tyler Winklevoss, has been granted an electronic money (e-money) operator license by the Central bank of Ireland. According to the regulator\u2019s records, the corresponding application was approved on March 14, allowing Gemini Payments Limited \u201cto issue e-money in accordance […]<\/p>\n","protected":false},"author":472,"featured_media":226332,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[35,60208,11],"tags":[],"post_folder":[],"acf":[],"yoast_head":"\nWinklevoss\u2019 Gemini Payments obtains e-money operator license in Ireland<\/title>\n<meta name=\"description\" content=\"Gemini has become the 18th company in Ireland that was authorized by the Central bank to issue electronic money.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptoslate.com\/winklevoss-gemini-payments-obtains-e-money-operator-license-in-ireland\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta 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