Gemini sells UK and European operations to Kast for under $10m
Stablecoin payments firm Kast acquired the regional assets as cryptocurrency exchange Gemini exits its European business footprint.
Key takeaways
- 1Gemini sold its UK and European operations to stablecoin payments firm Kast for less than $10m.
- 2Gemini declined to comment, while Kast said it is actively pursuing further merger and acquisition deals.
Cryptocurrency exchange Gemini has sold its entire United Kingdom and European business operations to stablecoin payments company Kast in a deal valued at less than $10 million. The transaction hands over ownership of the American exchange's regional corporate entities, operational infrastructure, and local customer channels directly to the stablecoin provider.
Gemini declined to comment on the transaction or on its overall business strategy across the European region. Kast confirmed the acquisition and said the firm is actively in the market for further merger and acquisition opportunities as it looks to build out its global stablecoin payment capabilities and operational network.
Gemini was founded by Cameron and Tyler Winklevoss as a centralised cryptocurrency exchange and digital asset custodian headquartered in the United States. The exchange had expanded into the United Kingdom and Europe to offer regulated trading services, asset custody, and local fiat currency funding options for both retail users and institutional clients.
The sale points to growing consolidation as dedicated stablecoin platforms buy up exchange infrastructure across major global financial hubs. Market participants will monitor how Kast integrates the acquired UK and European corporate assets into its core payment product suite, along with whether competing exchanges choose to divest non-core regional units.
Reported and edited by the YourKhabri desk under our editorial policy. Nothing here is investment advice.