Gemini launches services in France as country’s trust in crypto increases

Gemini has officially launched operations in France, marking its next phase of European expansion.

After registering as a Virtual Asset Service Provider earlier this year, the company is tapping into France’s growing crypto ecosystem and regulatory support.

The move allows users in France to open Gemini accounts and trade or store over 70 digital assets through the platform’s web or mobile app, according to a Gemini press release obtained by crypto.news.

French customers can also fund their accounts using local payment methods, including debit cards, bank transfers, and Apple Pay, with support for the Euro and British Pound. Advanced trading features like Gemini’s ActiveTrader™ platform and its over-the-counter trading services are also available for institutional clients seeking deep liquidity and competitive pricing.

“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.”

Gillian Lynch, Gemini’s CEO of UK & Europe

France’s growing interest in crypto

France has emerged as a key player in the global crypto market, supported by a newer regulatory framework that fosters innovation.

According to Gemini’s 2024 Global State of Crypto report, crypto ownership in France has risen to 18%, up two percentage points since 2022. This increase comes despite the challenges of the “crypto winter,” a prolonged downturn in digital asset prices.

French respondents trust crypto more than their counterparts in the US and UK, per the report. This trust is attributed to France’s VASP regime and the European Union’s MiCA regulation, introduced in 2023 to provide clear rules for crypto businesses across the EU.

Per the report, a majority (62%) of French crypto holders view digital assets as long-term investments, with 46% purchasing their first crypto three to five years ago. Nearly half (49%) of past crypto owners in France are likely to re-enter the market within the next year, with 28% planning to allocate 5% of their portfolios to crypto.

For 43% of respondents, security measures against fraud are the top factor in building trust in the crypto industry, while only 32% of past and non-owners cited regulatory concerns, a decline from 37% in 2022.

Women represent 35% of crypto owners in France, among the highest globally, despite a 10% decline since 2022, per the report.

Last month, Gemini secured in-principle approval from Singapore’s Monetary Authority for a Major Payment Institution license.