Gemini's trading volume continues to grow and has obtained the DASP license for the French market.

Gemini, the cryptocurrency exchange founded by twin brothers Cameron and Tyler Winklevoss, has received approval from the French market regulator to operate as a Digital Asset Service Provider (DASP). It is now preparing to launch retail and institutional services in France in the coming weeks.

According to a announcement by Gemini, the cryptocurrency exchange has registered as a Digital Asset Service Provider (DASP) with the French financial market regulator, l’Autorité des Marchés Financiers (AMF). Following the establishment of its EU headquarters in Ireland in 2022, Gemini is currently operating in over a dozen EU countries and more than 70 countries/regions globally, with plans for further expansion into additional countries.

Gemini's products will be made available to retail and institutional users across France in the coming weeks. Once launched in France, customers there will be able to seamlessly trade over 70 cryptocurrencies on the Gemini website and mobile app.

According to data from The Block, Gemini's spot trading volume in December 2023 reached $1.58 billion, representing a 26.4% growth compared to the previous month. Despite being only halfway through January, the trading volume has already reached $1.31 billion. With the launch of Bitcoin spot ETFs, which will help reduce price discrepancies, Arthur Hayes, the founder of BitMEX and a participant in the CME CF Bitcoin Reference Rate, stated that "traders will transact directly on these exchanges." This will contribute to Gemini's trading business.

Arthur Hayes: What trading opportunities will Bitcoin ETFs bring to traditional finance?

In addition, stablecoin issuer Circle also obtained conditional registration as a DASP in France last month and plans to commence operations after obtaining a license approval from a Payment Service Provider (PSP), further strengthening its compliant development in Europe.

Circle has obtained conditional registration as a DASP, strengthening its compliant development in Europe.