Main points
- Gemini cryptocurrency exchange was founded by the Winklevoss twins. Obtain a VASP license to operate in France.
- The exchange recognized France in Actively participate in and support the digital asset industry.
- The expansion marks part of the company’s vision Strengthen its presence in Europe.
Gemini expands to France to capitalize on the country’s booming cryptocurrency market
Gemini, a well-known U.S.-based cryptocurrency exchange, has roll out its operations in France. This is after fixed one Earlier this year, the country obtained a Virtual Asset Service Provider (VASP) license.
The launch is part of Gemini’s vision to expand its presence in the European market. It will allow French users to access the Gemini platform and easily buy, sell, trade, deposit and store Access 70+ crypto assets via web and mobile apps.
Gemini’s French customers will enjoy a variety of payment options, including local bank transfers, supported debit cards, fiat currencies such as British Pounds and Euros, and Apple Pay.
In addition, French advanced traders can now participate in over 80 trading pairs using Gemini’s ActiveTrader. Gemini’s OTC desk and eOTC trading system can also be used by institutional investors for large transactions, with strong liquidity.
At the same time, Gemini aims to explore the vast possibilities of France’s booming cryptocurrency market with this expansion. Notably, the move to France is in line with the exchange’s strategic growth plans in the European market.
According to Gemini Global State of Cryptocurrency Report 2024the exchange highlighted France’s active participation in crypto assets. In addition, the country has established a good regulatory environment for the crypto industry, attracting many crypto entities.
The report noted that France ranked among the most crypto-friendly countries in the European survey. The share of cryptocurrency owners in the country rises to 18%, a 2% increase since 2022.
In addition, the number of people in France who have concerns about the regulation of the crypto industry has dropped to 32% from 37% at the peak of the bear market in 2022.
Gemini UK and Europe chief executive Gillian Lynch expressed excitement at the company’s achievement in a statement. She noted that expanding to France will help Gemini achieve its mission of making cryptocurrencies accessible to many people.
Lynch also praised France’s regulatory framework for the industry.
The CEO said: “Gemini’s research into the French market demonstrates its growing interest in digital assets, and the strong regulatory framework provides a unique opportunity to introduce our platform to the trading community and expand in the coming months. Our presence in the European market.”
Gemini continues to take strategic initiatives to expand its global user base
Winklevoss twins Cameron and Tyler founded the Gemini cryptocurrency exchange in 2014. Although headquartered in New York, USA, The company currently operates in more than 70 countries around the world.
The cryptocurrency exchange’s European headquarters is located in Dublin. Gemini is the first crypto-related company to complete a Virtual Asset Service Provider (VASP) Register with the Central Bank of Ireland.
In May this year, the exchange disclosed Returning $2.18 billion in crypto assets to Earn Crypto Lending Program users. Notably, the product was shut down in November 2022 due to the cryptocurrency market contagion.
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