Crypto exchange Gemini has commenced operations in France, almost a year after securing a license as a digital asset service provider (DASP).
With this launch, the US-based exchange can fully provide services such as trading and storing around 70 digital assets.
Gemini Expands in France with Localized Services and Multi-Currency Support
Gemini shared the news earlier this week. The company’s U.K. 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.”
As part of Gemini’s active presence in France, locals can make deposits in multiple currencies, including the British pound, using payment options like Apple Pay, credit, and debit cards.
Nous venons d’atterrir en France 🇫🇷 https://t.co/KGa14zFKY2
— Gemini (@Gemini) November 19, 2024
While the regular Gemini platform supports only 70 assets for French users, the exchange revealed that advanced traders can access up to 80 trading pairs on its investment platform. Furthermore, Gemini announced plans to cater to institutional investors via its over-the-counter (OTC) desk. This means these users can get crypto assets like Bitcoin off-exchange.
Sharing more details about plans for French customers, Lynch said, “We’re currently exploring options to expand our services, as well as payment rails to improve accessibility and choice for our French customers.”
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— Gemini Institutional (@GeminiInsti) April 3, 2024
Why France?
Like most crypto exchanges, Gemini believes the French market holds more potential than the American or British markets. Sharing reasons for this stance, the exchange wrote, “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.”
“France is a key market for Gemini given its pro-crypto stance and forward-thinking approach to regulation given MiCA, which aligns closely with Gemini’s vision,” Lynch added.
As per a recent Gemini survey, France has one of the highest crypto rates in recent months. The survey states that ownership rates climbed to 18%, up 2% since 2022. This marks France as a leader in crypto adoption, particularly after the challenges of the crypto winter.
Furthermore, the survey notes that France has more trust in crypto assets than users in the U.S. and the U.K.
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