Gemini Becomes Ireland’s First VASP For Digital Assets

Gemini, a company specializing in digital assets, has made public the information that they have broken new ground by being the first business to be recognized as a Virtual Asset Service Provider (VASP) by the Central Bank of Ireland.

Their VASP registration follows “the heels of [their] Electronic Money Institution (EMI) authorization in February of 2022, also from the Central Bank of Ireland.”

The guiding principle behind Gemini’s establishment was “founded on the ethos of asking for permission, not forgiveness.” Since the company’s inception, Gemini has “engaged with regulators around the world to help shape thoughtful regulation that both protects consumers and fosters innovation. ”

They are very happy “to offer [their] products and services to individuals and institutions in Ireland and countries in Europe.”  “to access Gemini’s exchange and custody services to buy, sell, and store over 100 cryptocurrencies with EUR and GBP.”

In 2021, they inaugurated their headquarters for the European Union in Dublin, which they described as  “adding an important hub to Gemini’s global footprint.”  They are pleased “to keep growing [their] presence in Ireland to serve its citizens as well as others in Europe.”

Gemini has announced that they will be forming a collaboration with the Pyth network in order to “bring accurate and trusted on-chain market data to users across the globe.”

As a data publisher to Pyth, Gemini is thrilled  “to continue contributing to the growth of the DeFi ecosystem by providing [their] real-time price information to protocols and projects on-chain, courtesy of Superlunar — a Gemini web3 research & design studio — which automated the extraction of the pricing data.”

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Customers of Gemini are given “accurate, real-time data on crypto prices,” and the company is thrilled to integrate with Pyth in order to broaden access to essential market data.

“a specialized oracle solution for latency-sensitive financial data that is typically kept within the ‘walled gardens’ of centralized institutions,” this is what the Pyth network is. It operates “one of the largest and most reliable oracle networks, deriving price data from more than 65 leading institutions, both in crypto and traditional finance.”

The upcoming relationship between Gemini and the Pyth network will “directly aligns with our mission to unlock the next era of financial, creative, and personal freedom,” according to Gemini. The partnership will offer significant financial market data to DeFi applications and the general public.