Gemini, the renowned cryptocurrency exchange founded by Cameron and Tyler Winklevoss, is poised to make a significant stride into the French market. The platform has successfully secured registration as a Digital Asset Service Provider (DASP) from l’Autorité des Marchés Financiers (AMF), the esteemed French financial markets regulator.
Gemini’s Commitment To Regulatory Compliance
2023 witnessed global jurisdictions making substantial progress in crafting thoughtful crypto regulations. Gemini’s expansion into France is part of its broader international strategy. The exchange, having launched its EU headquarters in Ireland in 2022, is now operational in over a dozen EU countries and more than 70 countries worldwide.
The exchange’s move follows the footsteps of other crypto entities eyeing the French market. In December 2023, stablecoin issuer Circle received conditional registration as a digital asset service provider from the AMF and appointed Coralie Billmann as the Head of French Operations.
Gemini’s foray into France aligns with its consistent monthly trading volume growth. The exchange recorded $1.58 billion in spot trading volume in December 2023, marking a noteworthy 26.4% increase compared to the preceding month, according to The Block’s Data.
With the recent French DASP registration, the exchange is gearing up to make its products accessible to both retail and institutional users in France in the coming weeks. This move follows the final preparations to open up access to the Gemini platform in the country.
French customers can expect seamless trading of over 70 cryptocurrencies on the Gemini website and mobile app, along with access to the high-performance ActiveTrader platform. Institutional clients will also benefit from Gemini eOTC, the electronic over-the-counter trading solution that offers fully automated crypto trading with deep liquidity and delayed settlement.
Gillian Lynch, Gemini’s Head of Ireland and EU, expressed excitement about welcoming French customers onto the platform:
France is a global innovation leader and has a vibrant crypto community as showcased by the success of Paris Blockchain Week. We are excited to soon be able to provide French customers with compliant and secure access to the future of finance as we continue on our mission to unlock the next era of financial, creative, and personal freedom.
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