Gemini Launches in France After VASP Registration, Expands Crypto Services

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.