Gemini Launches in France, Capitalizing on Growing Crypto Confidence
Cryptocurrency exchange Gemini has officially launched operations in France, marking a strategic expansion into a market characterized by increasing digital asset adoption and progressive regulatory frameworks. The move comes after securing a Virtual Asset Service Provider (VASP) registration earlier this year, positioning the platform to capitalize on France’s emerging crypto ecosystem.
The launch enables French users to deposit, trade, and store over 70 digital assets through web and mobile platforms. Customers can fund their accounts using local payment methods, including euros, British pounds, debit cards, bank transfers, and Apple Pay. Advanced traders will have access to Gemini’s ActiveTrader platform, while institutional clients can leverage the exchange’s over-the-counter (OTC) trading services.
Gillian Lynch, Gemini’s CEO for UK and Europe, highlighted the strategic significance of the expansion. “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,” Lynch stated.
The timing coincides with France’s remarkable crypto growth trajectory. Gemini’s 2024 Global State of Crypto report reveals that the country has experienced a two percentage-point increase in crypto ownership, reaching 18% – the highest growth rate post-crypto winter. Notably, French respondents demonstrate higher trust in cryptocurrencies compared to their counterparts in the United States and United Kingdom.
This increased confidence can be attributed to France’s progressive regulatory environment, particularly the European Union’s Markets in Crypto-Assets (MiCA) regulation introduced in 2023. The framework has significantly reduced regulatory concerns, with only 32% of past and non-owners expressing apprehension, down from 37% two years ago.
The report also unveiled interesting insights into France’s crypto landscape. Approximately 62% of French crypto holders view digital assets as long-term investments, with 46% having purchased their first cryptocurrency between three to five years ago. Nearly half of past crypto owners are likely to re-enter the market within the next year, indicating sustained market potential.
Security remains a paramount concern, with 43% of respondents citing fraud prevention as the most critical factor in building industry trust. Interestingly, the market also shows a relatively balanced gender representation, with women comprising 35% of crypto owners.
Gemini’s expansion arrives at a pivotal moment, leveraging France’s supportive regulatory climate and growing digital asset ecosystem. As the company extends its European footprint, the launch represents a calculated move to tap into an increasingly crypto-receptive market.
