Crypto trading platform firm Webot scaling from Cork as it eyes European expansion

Webot, a crypto asset trading platform operated by Pionew Ireland Limited, headquartered in Penrose Dock, currently employs 12 staff with plans to grow this number as it scales.

A Cork-based crypto trading platform is set to expand its operations across Europe after securing key authorisations from regulatory bodies.

Webot, a crypto asset trading platform operated by Pionew Ireland Limited, headquartered in Penrose Dock, currently employs 12 staff with plans to grow this number as it scales.

Webot is a digital platform and smartphone app which operates like a traditional online banking or stock-trading app, but is built specifically for cryptocurrencies. It provides a protected digital wallet for the storage of digital assets, the ability to buy and sell, and to securely send them to others across Europe. 

The platform is entirely self-service, with Webot managing digital transactions but not giving financial or investment advice.

Webot CEO Dermot Kennedy said the platform has secured the Markets in Crypto-Assets Regulation (MiCAR) authorisation having already attained the Payment Services Directive (PSD2) for Electronic Money Tokens (EMTs) authorisations in December. The firm is authorised by the Central Bank of Ireland to deliver an extensive range of core crypto-asset services.

The team in Cork spans customer service, compliance, risk, finance, technology, operations, client asset oversight, legal, and anti-money laundering. Mr Kennedy said they were currently recruiting for additional operations and compliance professionals as it expands across the European Economic Area (EEA).

"Choosing Ireland as our European headquarters was a strategic decision driven by the country's exceptional fintech ecosystem," he said. "Our core operations and critical leadership decisions are driven entirely by our team here in Cork. Ireland’s robust regulatory environment and strong international reputation provide a foundation of confidence and certainty, for our customers across Europe."

"Furthermore, Ireland boasts an incredibly diverse, experienced talent base stemming from a deep concentration of traditional financial institutions and forward-thinking fintech firms. Coupled with progressive government-funded R&D support and the world-class assistance of agencies like the IDA to champion foreign direct investment."