Coinspeaker Gemini Enters French Market amid European Expansion Strategy
Gemini, a leading cryptocurrency exchange founded by Cameron and Tyler Winklevoss, has officially launched its operations in France, marking a significant milestone in its European expansion.
The move comes after the company successfully registered as a Virtual Asset Service Provider (VASP) earlier this year, signaling its commitment to capitalizing on the region’s growing interest in digital assets and regulatory clarity.
Gemini Enters the French Market
According to an announcement on Tuesday, French users can now access Gemini’s platform to trade, store, and manage over 70 digital assets via its web and mobile applications.
The company offers a variety of payment methods including local options such as bank transfers, debit cards, and Apple Pay, making it convenient for users to fund their accounts in euros or British pounds.
For experienced traders, Gemini’s ActiveTrader platform offers advanced tools and access to over 80 trading pairs. The company said that institutional clients can leverage its over-the-counter (OTC) services for large-volume transactions, benefiting from deep liquidity and competitive pricing.
Gemini sees the expansion to the French market as an opportunity to increase its European presence.
“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,” said Gillian Lynch, Gemini’s CEO for the UK and Europe.
The country has rapidly positioned itself as a key player in the global crypto market. The country’s regulatory framework, bolstered by the EU’s Markets in Crypto Assets (MiCA) regulation, has made it an attractive destination for crypto firms.
MiCA, which fully comes into effect by the end of the year, aims to provide consistent guidelines for digital asset businesses operating across the 27-nation bloc.
According to Gemini’s 2024 Global State of Crypto report, France boasts one of the highest growth rates in crypto adoption, with ownership rising to 18%, a two-percentage-point increase since 2022. The report highlights that 62% of French crypto holders view digital assets as long-term investments, reflecting a deepening trust in the market despite the challenges of the ongoing “crypto winter”.
Gemini’s Strategic Vision
Gemini’s entry into France is part of its broader strategy to expand its reach across Europe. The company is positioning itself to benefit from the passporting rights offered under MiCA, which will allow firms registered in one EU country to operate seamlessly across the bloc. With its VASP registration in France, Gemini is well-placed to extend its services beyond French borders once the regulation fully takes effect.
The launch also underscores the increasing confidence in crypto among French users. According to Gemini’s report, respondents in France exhibit higher trust in digital assets compared to their counterparts in the US and UK. This confidence is attributed to the country’s proactive regulatory environment, which includes clear guidelines and measures to safeguard investors against fraud.
Gemini’s presence in France is expected to accelerate the adoption of digital assets in the region. With nearly half of past crypto owners in the country expressing an interest in re-entering the market within the next year, the platform’s comprehensive offerings could play a pivotal role in shaping the local crypto ecosystem.
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Gemini Enters French Market amid European Expansion Strategy