US crypto exchange Gemini has launched its platform in France, allowing local users to deposit, trade and store over 70 digital assets on web and mobile devices. Gemini’s entry into the French market comes after it secured DASP registration from French regulators in January.
Cryptocurrency exchange Gemini, founded by Tyler and Cameron Winklevoss, officially launched its platform in France after it received registration as a digital asset service provider (DASP) from Autorité des Marchés Financiers (AMF) in January.
Gemini Expands EU Reach Amid Incoming MiCA Regulation
US-based cryptocurrency exchange Gemini officially launched its platform in France weeks before MiCA regulations take effect. The move allows local users to deposit, trade, and store at least 70 digital assets on web and mobile devices and comes months after the exchange announced its DASP approval from French market regulators. The exchange announced that users could deposit euros and British pounds through local payment options, including debit cards, bank transfers, and Apple Pay. Gemini’s French offering also supports institutional investors who can trade on the exchange’s over-the-counter desk.
Gemini’s French launch comes just weeks before regulations of the European Union’s (EU) landmark crypto framework MiCA (Markets in Crypto Assets) kicks into effect.
Gemini’s UK and Europe CEO, Gillian Lynch, said in a statement:
“We’ve taken the time to localize and optimize our product for French customers, ensuring that our platform is translated into French and that we can offer our full suite of services.”
Growing Interest in Digital Assets
At the time of its DASP approval, Gemini noted the significance of its business in the country given “France’s proactive engagement with and support of the crypto sector.”
Research in Gemini’s 2024 Global State of Crypto Report indicated growing cryptocurrency adoption and a favourable regulatory environment in France, with crypto adoption increasing by 2% over the past two years.
Lynch also commented in a statement saying;
“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.”
According to Gemini’s report, France ranked as one of the “most pro-crypto countries surveyed,” owing this growing increase to its proactive regulation of VASPs combined with the EU’s MiCA framework. Speaking to the significance of proper regulatory functions as seen in the EU, Lynch said:
“We have already started to see the positive impacts of MiCA, with our State of Crypto report showing that trust in crypto is higher in France compared to the other countries surveyed that are not within the EU.”
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Source: https://cryptodaily.co.uk/2024/11/crypto-exchange-gemini-launches-operations-in-france