Gemini, a prominent cryptocurrency exchange, has achieved a significant milestone by registering as a Digital Asset Service Provider (DASP) in France. This registration, granted by the Autorité des Marchés Financiers (AMF), allows Gemini to serve both retail and institutional customers in the European country. Moreover, French users will now have access to a wide range of 70 cryptocurrencies through Gemini’s comprehensive services.
In recent years, many US-based crypto exchanges, including Gemini, have sought expansion opportunities outside their home country due to regulatory scrutiny. Gemini, in particular, had to face legal challenges from the US Securities and Exchange Commission (SEC) regarding the classification of its defunct Earn product as a security. Additionally, New York authorities filed a lawsuit against the exchange, accusing it of defrauding investors. Consequently, Gemini decided to launch Gemini Foundation, a non-US derivatives platform, in 30 countries and contemplate the establishment of a second headquarters in the United Kingdom. Currently, Gemini operates in over a dozen EU countries and approximately 70 countries worldwide, with further expansion plans on the horizon.
Gemini’s Head of Ireland and EU, Gillian Lynch, expressed excitement about launching the platform in France, acknowledging the country as a global innovation leader with a thriving crypto community. She emphasized Gemini’s commitment to providing compliant and secure access to the future of finance. This registration marks an important step for Gemini in unlocking financial, creative, and personal freedom for its French customers.
Gemini offers a wide array of services to its users, contributing to its popularity among cryptocurrency enthusiasts. The exchange provides access to 70 different cryptocurrencies through its website, mobile app, Gemini eOTC, and the ActiveTrader platform. This comprehensive range of services ensures that users can trade and manage their digital assets conveniently, catering to both retail traders and institutional investors.
Gemini’s reputation and reliability in the cryptocurrency industry have also led to collaborations with other companies. Asset manager 7RCC has chosen Gemini as the crypto trading platform for its spot Bitcoin exchange-traded fund (ETF) application. This collaboration further solidifies Gemini as a trusted platform and highlights its role in shaping the future of the cryptocurrency market.
Gemini’s registration as a Digital Asset Service Provider in France is a significant achievement for the cryptocurrency exchange. It allows Gemini to expand its services to both retail and institutional customers in the European country, while also providing access to a diverse range of cryptocurrencies. As Gemini continues its mission to unlock financial freedom and innovation, this registration serves as a stepping stone in their journey. With their comprehensive services and commitment to compliance and security, Gemini is positioned to make a lasting impact on the cryptocurrency landscape in France and beyond.
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