Gemini, the cryptocurrency exchange founded by Cameron and Tyler Winklevoss, is gearing up to expand into the French market significantly. The platform recently achieved a milestone by securing registration as a Digital Asset Service Provider (DASP) from the Autorité des Marchés Financiers (AMF), France’s highly esteemed financial markets regulator.
🇫🇷 Salut! We are thrilled to announce Gemini has been registered as a Digital Asset Service Provider (DASP) by l’Autorité des Marchés Financiers (AMF), the French financial markets regulator.
Following the launch of our EU headquarters in Ireland in 2022, Gemini is now… pic.twitter.com/OXt1CfPh9t
— Gemini (@Gemini) January 17, 2024
Gemini’s strategic move into France aligns with its broader international expansion strategy. In 2022, the company also launched its European Union headquarters in Ireland. The exchange is now actively operating in over a dozen EU countries and is in more than 70 countries worldwide.
Gemini Expands into French Market with Record Trading Growth
This move by Gemini to enter the French market is thus an imitation of other cryptocurrency entities looking for regional market opportunities. On Dec 2023, Circle, the stablecoin issuer, got a restricted registration for digital assets from AMF. Coralie Billmann served as the Head of French Operations at that time.
The expansion of Gemini into France is supported by the steady increase in monthly trading volume for this company. In Dec 2013, the platform’s spot trading volume rose 26.4% to $1.58B, per Data from the Blocks. Thanks to the registration of DASP in France, Gemini will soon be able to empower its customers with retail and institutional accounts to choose their products.
Furthermore, the exchange is completing final preparations to open up access to its platform, allowing French customers to seamlessly trade over 70 cryptocurrencies on the Gemini website and mobile app. Institutional clients can access Gemini eOTC, an electronic over-the-counter trading solution. Known for its fully automated crypto trading, deep liquidity, and delayed settlement features.
Additionally, Gemini’s Head of Ireland and EU, Gillian Lynch, welcomed France as a new market for their services, saying that its leadership in innovation combined with the active crypto community completes all the boxes necessary to flourish. Lynch pointed to the future compliance and secure access being provided by the organization. This is a major breakthrough towards opening the new age of financial, artistic, and personal freedom.
Related Reading | Bitcoin Sparks Dollar Concerns: Morgan Stanley Alert