Crypto Exchange Gemini Eyes European Expansion with New Hire
New York-based crypto exchange Gemini’s European wing Gemini Europe, LLC. has taken on board Julian Sawyer as the Managing Director for the UK and Europe. Gemini, one of the leading cryptocurrency trading businesses and custodian platforms, is tapping the rising interest of European traders for crypto-based investment.
Europe Promises Growth in Crypto Trading Interest
Sawyer will build the Gemini strategy for the European market, including the physical presence of the exchange. He will be based in London, and report directly to Gemini’s President Cameron Winklevoss.
Prior to joining Gemini, Sawyer worked with the innovative Starling Bank, a mobile-only banking service with a European account and additional services through Post Offices. Sawyer has led Starling Bank through a period of rapid growth, bringing in relevant experience going through the early expansion of an innovative business.
The European Union, and the UK as a finance center, have become hotbeds of crypto-based interest. Based on international regulations, traders have easier access to fiat exchanges. Although local crypto companies offer multiple crypto-based products they rely on a strict, but also transparent regulatory climate.
“Europe is the birthplace of modern financial markets and the United Kingdom (UK) has been a global financial capital of innovation for hundreds of years,” said Tyler Winklevoss, CEO of Gemini.
“Gemini needs to be here and Julian’s deep knowledge and fintech expertise in these regions make him well-suited to lead Gemini’s expansion into this pioneering area of the world.”
Gemini Seeks Compliance with Multiple Regional Regulations
The Gemini exchange works to bring order to the crypto sector, and is one of the few owners of a New York business license. Gemini’s services are also available in Canada, Hong Kong, Singapore, South Korea, the United Kingdom, and Australia.
The EU recognizes crypto coins as assets, though not as money. Despite worries about “stablecoins”, especially Facebook’s Libra, so far, the European Central Bank has not cracked down on digital asset projects, and commercial banks for the most time serve exchanges and brokerages.
Gemini, however, is cautious about stablecoins as well. Its Gemini USD (GUSD) seems to be on the way out, with the supply diminishing rapidly to just above 4 million coins. GUSD seems to be phased out, unlike other stablecoins that are expanding and growing their volumes.
The team, however, is growing to about 200 international employees, tapping into executive talent from various industries. In the past 18 months alone, Gemini took on board Noah Perlman, Chief Compliance Officer, David Damato as Chief Security Officer, Sydney Schaub as General Counsel, Jeanine Hightower-Sellitto as Managing Director, Operations and Robert Cornish as Chief Technology Officer.
What do you think about the Gemini’s expansion to the EU? Share your thoughts in the comments section below!
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