Gemini Expands into France as Crypto Adoption Grows

Gemini has officially launched its operations in France, marking a significant milestone in the company’s ongoing European expansion.

Having registered as a Virtual Asset Service Provider (VASP) earlier this year, Gemini is now tapping into France’s rapidly growing cryptocurrency ecosystem and supportive regulatory environment. French users can now open Gemini accounts and access over 70 digital assets for trading or storage through the platform’s web or mobile app, as outlined in a press release from the company.

Additionally, Gemini’s French customers can fund their accounts via popular local payment methods such as debit cards, bank transfers, and Apple Pay, with support for both the Euro and British Pound. Advanced trading options, including Gemini’s ActiveTrader™ platform and over-the-counter (OTC) trading services, are also available to institutional clients seeking liquidity and competitive pricing.

France's Growing Crypto Interest and Trust

France has emerged as a key player in the global crypto market, bolstered by a progressive regulatory framework that encourages innovation. According to Gemini’s 2024 Global State of Crypto report, crypto ownership in France has risen to 18%, a 2% increase from 2022, despite the challenges posed by the prolonged "crypto winter" and falling digital asset prices.

French consumers also have more trust in cryptocurrencies compared to their counterparts in the U.S. and U.K., the report reveals. This trust is largely attributed to the country’s clear regulatory environment, including France’s VASP regime and the European Union’s MiCA regulation, introduced in 2023 to provide consistent rules for crypto businesses operating across the EU.

The report also highlights that 62% of French crypto holders view digital assets as long-term investments, with 46% having bought their first crypto between three to five years ago. Nearly half (49%) of past crypto owners in France are likely to return to the market within the next year, with 28% planning to allocate 5% of their portfolios to crypto investments.

Security is a top priority for French crypto users, with 43% of respondents citing anti-fraud measures as a key factor in building trust in the industry. Regulatory concerns, on the other hand, are less of an issue, with only 32% of past and non-crypto holders expressing concerns about regulations, a decline from 37% in 2022.

Women in France represent 35% of crypto owners, among the highest proportions globally, although this is a slight decrease from 45% in 2022.

Global Expansion Plans Continue

Gemini’s launch in France follows its recent success in securing in-principle approval from Singapore’s Monetary Authority for a Major Payment Institution license, further solidifying the company’s international growth strategy.

With a strong foothold in France and other key global markets, Gemini is well-positioned to capitalize on growing demand for cryptocurrencies and digital asset services.