[Gemini Sells UK and European Operations to Stablecoin Payments Company Kast] According to a report by CoinDesk on November 12th, cryptocurrency exchange Gemini has sold its UK and European operations to stablecoin payments company Kast for less than $10 million. Gemini initiated a restructuring in February of this year, laying off approximately 25% of its global staff and exiting the UK, EU, and Australian markets, shifting its focus to the US and Singapore. Since then, the company has been seeking buyers for these closed UK and European entities. Potential buyers are primarily interested not in the business itself, but in the related MiCA licenses and UK FCA registration qualifications. Kast is a stablecoin payments company that completed an $80 million funding round in March of this year, valuing the company at $600 million, and is preparing to launch its European operations. It's important to note that licenses do not automatically transfer with acquisitions: under the MiCA framework, acquiring a licensed company is generally considered a change of control and requires re-examination by regulatory bodies; the same applies to UK FCA registration qualifications.