Embrace Innovation as Gemini Takes Off in France’s Booming Crypto Scene
After establishing itself as a Virtual Asset Service Provider earlier this year, the company is now leveraging France’s thriving crypto market and supportive regulatory environment. This initiative enables users in France to create Gemini accounts and trade or securely store more than 70 digital assets using the platform’s web and mobile applications, as highlighted in a press release from Gemini.
French users can fund their accounts via local payment options such as debit cards, bank transfers, and Apple Pay, supporting the Euro and British pounds. Institutional clients also have access to advanced trading functionalities such as Gemini’s ActiveTrader™ platform and over-the-counter trading services that provide deep liquidity and competitive pricing. France has become a significant player in the global cryptocurrency landscape, bolstered by a contemporary regulatory framework encouraging innovation. According to Gemini’s 2024 Global State of Crypto report, the percentage of crypto ownership in France has increased to 18%, rising two percentage points since 2022. This growth persists despite the ongoing challenges posed by the “crypto winter,” marked by a downturn in digital asset valuations.
Read: Top 10 Fintech Cybersecurity Trends
Revolutionary Trust in Cryptos: France Sets the Stage for a European Surge
The report also indicates that French respondents exhibit greater trust in cryptocurrencies than their US and UK counterparts. This confidence is largely due to France’s VASP regime and the introduction of the European Union’s MiCA regulation in 2023, which aims to establish clear guidelines for crypto businesses throughout the EU. Notably, the report reveals that 62% of French crypto holders consider digital assets as long-term investments, with 46% having purchased their first cryptocurrency three to five years ago. Furthermore, nearly half (49%) of previous crypto owners in France are inclined to re-enter the market within the next year, and 28% plan to allocate 5% of their portfolios to cryptocurrencies.
Read: 10 AI ML Applications in the Identification and Prevention of Different Types of Fraud
In terms of trust factors, 43% of respondents identified security measures against fraud as the primary influencer in building confidence in the crypto sector. In contrast, only 32% of past and potential crypto owners raised concerns about regulation, a decrease from 37% in 2022. Additionally, women make up 35% of crypto owners in France, one of the highest rates globally, despite a 10% drop since 2022, according to the findings.
Read: 60 Popular Fintech Words You Should Know
Thanks for reading!
To share your insights with the FinTech Newsroom, please write to us at news@intentamplify.com
