Stablecoin Firm KAST Buys Gemini’s Shuttered UK and EU Arm for Under $10 Million, Report Says
By Unchained
AI summary of the source article
Singapore-based stablecoin startup KAST has reportedly acquired Gemini’s UK and European operations for under $10 million. The acquisition follows Gemini's decision to wind down its operations across the UK and European Union.
Why it matters
The reported sale "would complete Gemini’s exit from Europe, part of a pullback it began early this year."
Key facts
- KAST reportedly bought Gemini’s UK and European operations for less than $10 million.
- Gemini had previously announced plans to wind down operations in the UK, EU, other European jurisdictions, and Australia.
- KAST raised an $80 million Series A in March led by QED Investors and Left Lane Capital.
Source excerpt · Unchained
No deal has been announced, but a KAST job listing describes moving Gemini's UK and EU staff to KAST and integrating acquired UK and EU entities. The post Stablecoin Firm KAST Buys Gemini’s Shuttered UK and EU Arm for Under $10 Million, Report Says appeared first on Unchained .