Gemini has sold its UK and European operations to KAST, a company specializing in stablecoin payments, for less than $10 million, CoinDesk reported. This move marks a strategic withdrawal from these regions for the crypto exchange.
KAST’s acquisition signals its intent to expand its footprint in the European crypto payments space by absorbing Gemini’s existing infrastructure and user base. The deal, valued under $10 million, illustrates a shift in the competitive landscape among crypto service providers.
For Japanese investors, this development highlights ongoing regional realignments in crypto markets as firms recalibrate their strategies amid regulatory and market pressures internationally.