Crypto Quill

Gemini, one of the leading cryptocurrency exchanges, has officially launched its services in France, marking a significant milestone in its European expansion strategy. This move comes after the company registered as a Virtual Asset Service Provider (VASP) earlier in 2024, tapping into France’s growing crypto ecosystem and its evolving regulatory framework.

A New Chapter for Gemini in France

Starting now, French users can open Gemini accounts to trade and store over 70 digital assets, including major cryptocurrencies like Bitcoin, Ethereum, and other altcoins. The platform is accessible through both web and mobile apps, providing flexibility for users across various devices.

Additionally, Gemini supports multiple payment options, including debit cards, bank transfers, and Apple Pay. French customers can fund their accounts in both Euros and British Pounds, further enhancing the platform’s accessibility. For more experienced traders and institutional clients, Gemini also offers advanced features, such as its ActiveTrader™ platform and over-the-counter (OTC) trading services, which provide deeper liquidity and competitive pricing.

Gillian Lynch, CEO of Gemini’s UK and European operations, expressed optimism about the company’s expansion in France, citing a growing interest in digital assets and a strong regulatory environment. She emphasized that Gemini’s research has shown robust demand for crypto services in France, creating a unique opportunity for the platform’s growth in the European market.

France’s Crypto Market: A Growing Force

France has increasingly become a key player in the global crypto market, largely due to its supportive regulatory environment. The country’s new regulatory framework, which includes the Virtual Asset Service Provider regime, alongside the European Union’s MiCA (Markets in Crypto-Assets) regulation introduced in 2023, provides clearer rules for crypto businesses. This regulatory clarity has bolstered France’s appeal to both local and international crypto firms.

Gemini’s 2024 Global State of Crypto report highlights France’s rising interest in cryptocurrencies. Crypto ownership in the country has grown to 18% of the population, up from 16% in 2022, despite the challenges of the “crypto winter,” which saw a prolonged decline in digital asset prices. This increase in ownership reflects a growing confidence in digital assets among French citizens, with a majority of crypto holders seeing digital currencies as a long-term investment.

Interestingly, French consumers trust crypto more than their counterparts in the U.S. and the UK. This high level of trust is attributed to the regulatory advancements made under France’s VASP regime and MiCA regulations, which have helped provide a sense of security for crypto investors.

Trust and Security Drive Crypto Adoption in France

Security is one of the most significant factors driving this increased trust in cryptocurrencies in France. According to the Global State of Crypto report, 43% of French crypto holders cited security measures against fraud as a top priority for their continued investment in digital assets. This concern for security reflects broader industry trends, where users seek platforms with strong protections to prevent fraud and theft.

Moreover, France has a high percentage of female crypto owners—35%, one of the highest in the world, though this has slightly decreased from 2022. As more people gain exposure to cryptocurrencies, France’s crypto adoption continues to outpace many other nations, making it a critical market for companies like Gemini looking to expand their reach in Europe.

Gemini’s Growing Global Footprint

Gemini’s expansion into France follows a series of strategic moves, including its recent in-principle approval from Singapore’s Monetary Authority to offer its services as a Major Payment Institution. The exchange’s expansion into these regulated markets signals a commitment to offering secure and reliable crypto services to a growing number of global users.

As the French crypto market continues to grow, Gemini’s entry represents the exchange’s efforts to solidify its presence in Europe, while also capitalizing on France’s increasing trust in digital assets. With France’s crypto ecosystem continuing to thrive under clear and progressive regulations, Gemini’s move is likely to further fuel the adoption of cryptocurrencies in the region.