Gemini, a platform for crypto and Web3 services, has officially launched in France after registering as a Virtual Asset Service Provider (VASP) earlier this year. According to the firm, this move aligns with the its strategy to expand its presence in Europe, capitalizing on France's growing crypto and Web3 market.
French users can now access Gemini’s platform to deposit, trade, and store over 70 digital assets through both web and mobile applications. Payment options include local methods like EUR and GBP, with support for debit cards, bank transfers, and Apple Pay.
Gemini Targets French Market
Advanced traders can use Gemini’s ActiveTrader to access over 80 trading pairs, while institutional clients can take advantage of Gemini’s OTC desk and eOTC trading system, designed to facilitate large transactions with deep liquidity.
Gemini’s expansion into France is seen as a key step in its growth strategy. According to the firm, the country’s positive stance toward crypto and its supportive regulatory environment have made it an attractive market for crypto firms.
Gemini’s market research indicates that France has a growing interest in digital assets, supported by a strong regulatory framework that offers opportunities for platform growth.
France Leads Crypto Growth
France has experienced significant growth in crypto adoption, with a 2 percentage-point increase in the number of crypto owners since 2022, making it one of the highest growth countries in the post-crypto winter period.
“We believe in empowering individuals through crypto, and our expansion into France marks a significant milestone in our mission to make crypto accessible to everyone,” said Gillian Lynch, Gemini’s CEO of UK & Europe.
“Gemini’s research into the French market shows its growing interest in digital assets, and a robust regulatory framework presents a unique opportunity to introduce our platform to the trading community and extend our presence in the European market over the coming months.”
Crypto Trust Surges Globally
Gemini’s 2024 Global State of Crypto report highlights that France has a favorable attitude toward digital assets, with respondents showing higher trust in crypto compared to those in the US and UK.
This trust is likely supported by the VASP regime introduced in France and the European Union’s passing of the Markets in Crypto Assets regulation (MiCA) in 2023, which provides clearer guidelines for digital asset businesses operating within the EU. The report also notes that consumers in France are less concerned about regulatory challenges than they were two years ago.
This article was written by Tareq Sikder at www.financemagnates.com.
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