Crypto exchange Gemini on Tuesday announced it has launched its services in France, following the company's earlier registration as a Virtual Asset Service Provider (VASP) in the country, aligning with France's growing crypto adoption and regulatory support.
What Happened: French users can now access Gemini's platform to trade, store, and manage over 70 digital assets and make EUR and GBP deposits via debit cards, bank transfers and Apple Pay.
Gemini's entry into France reflects the country's increasing embrace of cryptocurrencies.
According to the company's 2024 Global State of Crypto report, 18% of French respondents now own crypto—a 2% increase since 2022—making France a standout market in post-crypto winter recovery.
The report highlights that nearly 23% of French respondents trust cryptocurrencies, a higher percentage than in the U.S. (21%) and U.K. (19%).
"France's robust regulatory framework presents a unique opportunity to introduce our platform to the trading community and expand our presence across Europe," Gillian Lynch, Gemini's CEO of UK & Europe said.
The introduction of France's VASP regime and the European Union's Markets in Crypto Assets (MiCA) regulation in 2023 have helped foster trust in the sector.
MiCA takes effect end of 2025.
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The report further notes that regulatory concerns among French crypto users have declined from 37% in 2022 to 32% in 2024, highlighting increasing confidence in the industry.
France's crypto market also stands out for its unique user behaviors.
A majority of crypto holders (62%) in the country view cryptocurrencies as long-term investments, with 46% having entered the market three to five years ago.
Additionally, nearly half (49%) of former crypto owners in France are likely to re-enter the market within the next year, with many comfortable allocating 5% of their portfolios to digital assets.
The gender split in crypto adoption in France is among the most balanced globally, with 35% of owners being women. Notably, a larger proportion of women (34%) purchased crypto for the first time in the past year compared to men (17%).
While Gemini's launch highlights France as a crypto hub, challenges remain.
Security remains a top priority, with 43% of respondents identifying fraud protection as the most critical factor for increasing trust in the industry.
Nonetheless, France's declining regulatory concerns and robust market infrastructure make it an attractive destination for crypto platforms.
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