Many U.S. fintech companies are choosing Ireland as their desired locale to become a foothold for their entrance into the European market. Many cryptocurrency companies have been launching offices in the Republic and are looking to onboard local talent. The movement of these companies to Ireland will prove to offer many job openings to local populations.
One such example of this is Kraken. Kraken is a cryptocurrency exchange based in California that has recently expanded its operations to Ireland. The crypto exchange is a significant actor in the contribution of digital asset trading services throughout the United States.
Kraken is currently in the process of creating a new team in Dublin to manage its European enterprises. Presently, the company has a total of around 2,000 employees across the globe. So far, there have been three job posts on Glassdoor within the last month including positions for software project manager, senior site reliability engineer, and compliance risk officer. There had also been a Linkedinpost for the position of operational resiliency specialist.
Gemini is another digital currency exchange based in the U.S. that is establishing a base in Dublin. This company is headquartered in New York and has already sent an application to the Central Bank of Ireland to receive an electronic money license. The hope of the license would be that it allows for easier access to other markets in the European Union. Gemini has already received regulatory approval from the United Kingdom in 2020.
To commence European expansion, the company decided to hire Gillian Lynch to be in charge of European endeavors from Ireland. Gemini has filled some positions with Irish locals but is still looking to fill positions of accounting managers and traders.
In addition to cryptocurrency companies, many financial institutions with European ambitions have been selecting Ireland as their new hub for digital asset business. One such institution is U.S.-based Bank of New York Mellon who has only recently decided to join the cryptocurrency arena in February of this year. New York Mellon has initiated a ‘Digital Innovation Hub’ earlier this year in Dublin that will work as a crypto asset custodian that holds and transfers digital currency for customers.
Additionally, Blockdaemon, a fintech company backed by Goldman Sachs, expects to grow its enterprises in Galway. Blockdaemon’s work involves the development of blockchain technology for financial service actors. The company’s Galway office was established three years ago and it has been hiring for remote positions across Ireland ever since.
These are just a handful of examples of companies moving to Ireland. These expansions into Ireland prove that the country is a hotspot of innovation and growth in the fintech industry.
Tassev, Lubomir. “Crypto Companies Establish Presence, Hire Talent in Ireland.” Bitcoin.com, 25 July 2021, https://news.bitcoin.com/crypto-companies-establish-presence-hire-talent-in-ireland/.