The Republic of Ireland is friendly to financial innovation and has become an ideal destination for fintech companies that need unimpeded access to the European Common Market. Cryptocurrency companies have been opening offices in EU member states, and some well-known companies are now seeking to hire local talent.

Major crypto company opens European branch in Ireland to fill new positions

According to the Irish Independent Daily, the California-based cryptocurrency exchange Kraken has chosen Ireland as its European base. The newspaper revealed on Sunday that the company is a major digital asset trading service provider in the United States and is currently forming a team in Dublin to support its European operations.

According to the publication, the encryption platform has approximately 2,000 employees worldwide. In the past month or so, three Kraken vacant positions have been posted on Glassdoor-Software Project Manager, Compliance Risk Officer, and Senior Site Reliability Engineer. The exchange is also looking for Linkedin’s operational flexibility experts. They are all located in the capital of Ireland.

Crypto company builds operations in Ireland and recruits talent

The Independent wrote in early July that another US digital currency exchange based in Dublin is Gemini. The New York-based cryptocurrency company has applied for an electronic currency license from the Central Bank of Ireland, hoping to use it to enter other EU markets. The encryption platform received regulatory approval in the UK last year.

To facilitate its European expansion plans, Gemini has hired Gillian Lynch from Ireland to manage its operations in the Old World. The executive previously served as the chief operating officer of the financial technology company Leveris and the head of retail planning at the Bank of Ireland. Lynch occupied the latter’s position for several years.

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The cryptocurrency exchange has also filled many other job vacancies in the island country. The list includes a finance director and a risk and compliance director. Gemini is also currently hiring accounting managers and traders. The people who will be appointed to these positions will process orders on behalf of their customers.

Not only companies that focus on cryptocurrencies, but also financial institutions eager to enter the market have chosen Ireland as their destination for their digital asset business. Following the decision to enter the encryption field in February, the American giant Bank of New York Mellon established a “digital innovation center” in Dublin in May. The department will act as the custodian of crypto assets to hold and transfer digital currencies for its clients.

In June of this year, Irish media reported that Blockdaemon, a financial technology company backed by Goldman Sachs, plans to expand its business in Galway while seeking acquisitions. The company that develops blockchain technology for financial service providers opened an office in a city in western Ireland about three years ago and has since started recruiting talent for remote positions across Ireland. It currently has 10 employees, of which 7 work in Galway and the rest live in other parts of the country. In addition, the latest findings of the Cambridge Bitcoin Power Consumption Index also pointed out that 2.27% of Bitcoin’s computing power is located in Ireland.

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