Gemini, an American cryptocurrency trading platform, has announced its entry into the French market after obtaining the French Virtual Asset Service Provider (VASP) license. Gillian Lynch, CEO of Gemini Europe and the UK, emphasized France’s supportive crypto regulations and growing market interest as key factors in expanding the company’s presence in Europe.
Gemini’s 2024 Global Crypto State Report revealed that France is one of the countries with the fastest growth in crypto asset holdings. The proportion of holders has risen by 2% since 2022, with a holding rate of 18%. France’s MiCA reform and focus on consumer protection have attracted more market participants, unlike Canada where several trading platforms, including Gemini, have withdrawn due to regulatory tightening.
Additionally, France boasts important industry projects like Ledger.