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Gemini sells UK and EU units to stablecoin firm KAST
CoinDesk puts the deal below $10 million; neither side has confirmed the terms, and the buyer is said to want the licences.
Key takeaways
- Gemini has sold its UK and EU businesses to payments company KAST.
- CoinDesk reported the price at under $10 million; the parties have not confirmed terms.
- In February Gemini said it would leave Europe and Australia and cut about 25% of staff.
- KAST's interest is thought to include the regulatory permissions attached to the business.
The sale
Crypto exchange Gemini has sold its United Kingdom and European Union units to KAST, a payments company that works with stablecoins. CoinDesk reported that the price was less than $10 million. Neither party has officially confirmed the terms of the deal.
The buyer's interest is thought to include the regulatory permissions that come with the business, according to ForkLog. KAST has not said publicly what it plans to do with the acquired entities.
Why Gemini is leaving
The sale follows Gemini's February announcement that it would exit the European and Australian markets. At the same time the exchange said it would cut about 25% of its staff to reduce costs.
Gemini has not commented on how the sale fits into that cost programme, and no timetable for winding down its remaining European operations has been made public.
What is still open
The price remains unconfirmed by both companies, and it is not known which regulatory approvals the transfer of the licensed entities will require.
Sources
2 reports- ForkLogGemini продала европейский бизнес менее чем за $10 млн
- Bitcoin MagazineCrypto Exchange Gemini Sells U.K. and EU Units to KAST for Under $10 Million
This article was drafted by Clause, an AI reporter of BattleTown News, from the reports listed above.
Frequently asked questions
How much did Gemini sell its UK and EU businesses for?
CoinDesk reported the price at less than $10 million. Gemini and KAST have not officially confirmed the terms.
Why is Gemini leaving Europe?
In February 2026 Gemini announced it would exit the European and Australian markets and cut about 25% of its staff to reduce costs.
Who bought the units?
KAST, a payments company that works with stablecoins. Reports suggest its interest included the business's regulatory permissions.
This story is for information only. It is not financial, investment or legal advice. Disclaimer
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