Gemini lands in France registered as a VASP

Gemini is expanding in France, launching its crypto platform registered as a Virtual Asset Service Provider (VASP). The crypto-exchange is continuously conquering the European market. 

Gemini expands in France and launches its crypto platform registered as VASP

Gemini, the famous crypto-exchange of the Winklevoss twins, expands in France after obtaining the registration as a Virtual Asset Service Provider (VASP) at the beginning of this year.

In practice, Gemini has launched its global crypto platform in France and continues its mission to conquer the European market. 

French users can now open an account to deposit, trade, and hold more than 70 digital assets using the web or mobile app. Not only that, to add funds, users in France will be able to use local payment networks, including EUR and GBP, via debit card, bank transfer, and Apple Pay.

For the more experienced French users, then, Gemini France allows them to access the ActiveTrader™ service, for sophisticated trading with over 80 trading pairs. Institutional users, on the other hand, can benefit from the Gemini OTC desk and the eOTC trading system, designed to execute large orders with high liquidity and optimal prices.

This entry into France is a total strategic move for Gemini, as it seems that in the country, crypto adoption is on the rise. 

Gemini in France: the response strategy to the growing crypto adoption 

Regarding the new entry of Gemini in France, Gillian Lynch, CEO of Gemini for the United Kingdom and Europe, commented as follows: 

“We believe in empowering individuals through cryptocurrencies, and our expansion into France marks a significant milestone in our mission to make cryptocurrencies accessible to everyone. Gemini’s research on the French market shows its growing interest in digital assets, and a solid regulatory framework presents a unique opportunity to introduce our platform to the trading community and extend our presence in the European market in the coming months.”

According to the data from the report 2024 Global State of Crypto by Gemini, it seems that France ranks as one of the most crypto-friendly countries, with a strong demand for secure and reliable operators.

Specifically, in the Gemini survey, the French respondents turned out to be mostly (62%) crypto HODLers. 

In terms of trust in crypto, it seems that 23% of French respondents answered that they have it, surpassing the 21% in the USA and the 19% in the United Kingdom. 

Another significant factor is related to the gender gap in the crypto sector. France boasts one of the most balanced gender distributions in cryptocurrency adoption globally (35% of the owners are women), despite a 10% decrease since 2022. 

The interview with Lynch by TheCryptonomist

At the beginning of this month, The Cryptonomist interviewed Lynch to discuss Gemini’s expansion plans.

Among other things, Lynch emphasized that the crypto-exchange continues to prioritize the European market. In fact, it seems that in anticipation for the next 12 months, Gemini will invest resources in the UK and also in Italy. 

Lynch spoke about the European regulation in the crypto field, the MiCA, and then also about the situation in the United Kingdom where, however, the regulatory framework is not very clear.