Gemini Launches Operations in France as Part of European Expansion
Gemini, a cryptocurrency exchange founded by Cameron and Tyler Winklevoss, has launched operations in France, marking a milestone in its European expansion.
This development follows Gemini's registration as a Virtual Asset Service Provider (VASP), reflecting its intent to engage with the region's increasing interest in digital assets and regulatory clarity.
Gemini Enters the French Market
French users can now utilize Gemini's platform to trade, store, and manage over 70 digital assets through web and mobile applications. Payment methods include local options such as bank transfers, debit cards, and Apple Pay, allowing users to fund accounts in euros or British pounds.
For experienced traders, Gemini offers an ActiveTrader platform with advanced tools and access to over 80 trading pairs. Institutional clients can also use over-the-counter (OTC) services for large-volume transactions, benefiting from deep liquidity and competitive pricing.
Gillian Lynch, Gemini’s CEO for the UK and Europe, stated that research indicates growing interest in digital assets within France, supported by a robust regulatory framework, creating an opportunity to expand in the European market.
France is becoming a significant player in the global crypto market, aided by the EU’s Markets in Crypto Assets (MiCA) regulation, which aims to provide consistent guidelines for digital asset businesses across the EU. MiCA will fully take effect by year-end.
According to Gemini’s 2024 Global State of Crypto report, France has one of the highest growth rates in crypto adoption, with ownership increasing to 18%, a two-percentage-point rise since 2022. The report indicates that 62% of French crypto holders view digital assets as long-term investments, demonstrating trust in the market despite ongoing challenges.
Gemini’s Strategic Vision
Gemini's entry into France aligns with its strategy to expand across Europe, leveraging passporting rights under MiCA. With VASP registration in France, Gemini is positioned to extend services beyond its borders once regulations take full effect.
The launch reflects increasing confidence in crypto among French users. The report shows that respondents in France exhibit greater trust in digital assets compared to those in the US and UK, attributed to the proactive regulatory environment providing clear guidelines and investor protections against fraud.
Gemini's presence in France is expected to boost digital asset adoption in the region. Nearly half of past crypto owners in France express interest in re-entering the market within the next year, suggesting that Gemini's offerings could significantly influence the local crypto ecosystem.