Cryptocurrency and Web3 platform Gemini has launched its services in France after registering as a VASP earlier in 2024. The move aligns with the company’s strategy to strengthen its foothold in Europe, particularly in markets with robust crypto ecosystems.

With this launch, French users can now open Gemini accounts to deposit, trade, and store over 70 digital assets via the platform’s web or mobile app. The platform supports local payment methods, allowing deposits in EUR and GPT through debit cards, bank transfers, and Apple Pay. Advanced users have access to Gemini’s ActiveTrader platform, while institutional clients can use the company’s OTC desk and eOTC trading system for handling large-scale orders with deep liquidity and competitive pricing.

Cryptocurrency adoption in France Gemini’s decision to enter France reflects the country’s increasing embrace of digital assets. According to Gemini’s 2024 Global State of Crypto report, crypto adoption in France has risen consistently over the past two years. Approximately 18% of French respondents now own cryptocurrency, up by 2 percentage points since 2022, positioning France as a leading market in post-crypto winter recovery.

The report also highlights that regulatory clarity has improved confidence among French consumers. France’s VASP regime, alongside the European Union’s Markets in Crypto Assets (MiCA) regulation passed in 2023, has provided a well-defined framework for the digital asset industry. Consequently, concerns over regulation have diminished, with only 32% of surveyed non-owners and past owners citing it as a barrier in 2024, down from 37% two years ago.

Additional findings from the report include: Long-term investment focus: A majority of French crypto holders (62%) view their holdings as long-term investments, with 46% having entered the market three to five years ago.  Potential market re-entry: Nearly half (49%) of former crypto owners in France expressed interest in returning to the market within the next year.  Trust levels: Trust in crypto is notably higher in France (23%) compared to the US (21%) and the UK (19%).  Security concerns: Consumer trust hinges heavily on fraud protection and robust security measures, cited as critical by 43% of respondents.  Gender parity: France has one of the most balanced gender splits in crypto ownership globally, with women accounting for 35% of holders. Gemini’s leadership sees France as an important market for its European expansion. Company officials noted that the country’s regulatory framework and growing interest in digital assets offer an opportunity to broaden the platform’s reach.

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