Gemini crypto exchange is reinforcing its leadership in Europe in light of an ambitious expansion plan for 2025.
According to Bloomberg, Gemini has named Mark Jennings as the head of Europe and Daniel Slutzkin as the head of the U.K. to push its growth in the region.
Formerly Kraken's COO of European operations, and Slutzkin, previously of U.K. broker Stake, respectively bring multiple decades of experience. To complete the hire hat-trick, Vijay Selvam has been appointed international general counsel, leading Gemini's licensing and regulatory strategy for Europe and the U.K. Relocating from Gemini's Asia-Pacific team, Selvam will be London-based.
The move comes at a critical point for the European crypto market, as the new MiCA regulations of the EU go into effect by December 30. It will oversee service providers in cryptocurrencies that will indirectly impact the firms dealing with them, such as Gemini, which is trying to spread its wings in the region.
Despite these efforts, the Gemini crypto exchange has failed to win meaningful market share in Europe, where it has less than 1% of the total market.
In 2024, the average weekly euro-denominated trading volume of the exchange was about €1 million ($1 million), way behind rivals like Dutch exchange Bitvavo BV, which commanded half of the region's euro-denominated volume in November 2024.