Gemini obtains VASP approval in France, prepares retail and institutional services launch: CNBC
Exchanges • January 17, 2024, 10:01AM EST
Published 1 minute earlier on
Quick Take
- Crypto exchange Gemini, founded by Cameron and Tyler Winklevoss, gained approval as a virtual asset services provider from France’s market regulator.
- Gemini is now preparing to launch retail and institutional services in the country within weeks, CNBC reports.
The crypto exchange Gemini, founded by Cameron and Tyler Winklevoss, is preparing to launch a platform serving French users. Gemini obtained approval as a virtual asset services provider from the French markets regulator Autorite des marches financiers. It will launch services for retail and institutional customers in France within weeks, giving users access to 70 cryptocurrencies and Gemini's website, mobile app, Gemini eOTC and the ActiveTrader platform, CNBC reports. Gemini's entry into France comes as the exchange sees consistent monthly trading volume increases. The firm brought in $1.58 billion in spot trading volume in December 2023 — a 26.4% increase compared to the month prior, according to The Block's Data Dashboard. Gemini is not the only crypto firm eyeing a French market. In December 2023, stablecoin issuer Circle received conditional registration from the AMF as a digital asset service provider and hired Coralie Billmann as Head of French Operations, The Block previously reported. Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures. © 2023 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
About Author
MK Manoylov has been a reporter for The Block since 2020 — joining just before bitcoin surpassed $20,000 for the first time. Since then, MK has written nearly 1,000 articles for the publication, covering any and all crypto news but with a penchant toward NFT, metaverse, web3 gaming, funding, crime, hack and crypto ecosystem stories. MK holds a graduate degree from New York University's Science, Health and Environmental Reporting Program (SHERP) and has also covered health topics for WebMD and Insider. You can follow MK on X @MManoylov and on LinkedIn.
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