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With a friendly attitude to financial innovation, the Republic of Ireland has become a destination of choice for fintech companies who need unhindered access to the common European market. Cryptocurrency companies have opened offices in the EU member state with well-known players now looking to hire local talent.
California-based cryptocurrency exchange Kraken has chosen Ireland as its European base, Irish daily Independent reported. The company, a leading provider of digital asset trading services in the United States, is now forming a team in Dublin to support its European operations, the newspaper revealed on Sunday.
According to the publication, the crypto platform has around 2,000 employees worldwide. Three advertisements for vacancies at Kraken were posted on Glass door in the last month or so – for the software project manager, compliance risk manager and senior site reliability engineer. The exchange was also looking for an operational resilience specialist on Linkedin. All are based in the Irish capital.
Another U.S. digital bureau de change building a base in Dublin is Gemini, The Independent wrote earlier in July. The New York-based crypto firm has applied for an e-money license from the Central Bank of Ireland that it hopes to use to access other EU markets. The crypto platform got regulatory approval in the UK last year.
To facilitate its European expansion plan, Gemini has already hired Gillian Lynch to manage its operations on the Old Continent from Ireland. The executive previously served as COO of Leveris, a fintech firm, and head of retail planning at Bank of Ireland. Lynch held the latter position for several years.
The crypto exchange has also filled a number of other vacancies in the island nation. The list includes a finance manager and a risk and compliance manager. Gemini is now also recruiting accountants and traders. The people who will be appointed to these positions will be responsible for managing orders on behalf of its customers.
Not only crypto-focused companies but also financial institutions keen to get involved in the market have chosen Ireland as the destination for their digital asset business. Following a decision to enter the crypto space in February, U.S. giant Bank of New York Mellon established a “digital innovation hub” in Dublin in May. The unit will function as a custodian of crypto assets holding and transferring digital currencies for its clients.
In June, the Irish press reported that financial technology firm Blockdaemon, backed by Goldman Sachs, was planning to expand its presence in Galway as it sought acquisitions. The company that develops blockchain technology for financial service providers opened an office in the city of West Ireland about three years ago and has since started hiring talent for remote positions across the ‘Ireland. It currently has ten employees, seven of whom are based in Galway, the others residing in other parts of the country. In addition, the latest findings from the Cambridge Bitcoin Electricity Consumption Index also indicate that 2.27% of Bitcoin’s hashrate is located in Ireland.
Do you expect Ireland to attract more companies in the crypto industry? Let us know in the comments section below.
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