Gemini attracts buyers for European, UK licenses

Gemini may sell parts of its closed European and UK operations, attracting buyers interested in its regulatory licenses. Transfers require regulatory approval and do not involve a full company sale.

Gemini is drawing interest from potential buyers for parts of its closed operations in Europe and the United Kingdom. This follows the company's February announcement of a 25% workforce reduction and the shutdown of services in those regions, as well as in Australia. Buyers are particularly interested in Gemini's regulatory licenses, such as the MiCA license in Malta and authorizations in the UK, which are valuable for operating in highly regulated markets. However, transferring these licenses is not straightforward; any change of control requires approval from local regulators, making the process more complex. The discussions focus on acquiring specific strategic assets, mainly regulatory infrastructure, rather than a full company takeover. Meanwhile, Gemini is concentrating its business in the United States and Singapore. Since its IPO, the company's shares have dropped by more than 80%.