Is France Becoming EU’s Crypto Hub? Coinbase’s VASP Registration Indicates So

<p dir="ltr">France is becoming a favorite for crypto firms as Coinbase becomes the latest to obtain a visual asset service provider (VASP) registration in the country. With this, the American exchange can offer its “full suite of retail, institutional, and ecosystem products and services to users in France.”</p><p dir="ltr">Crypto Demand in France Is High</p><p dir="ltr">The confirmation from Coinbase yesterday (Thursday) came on the same day Circle, a stablecoin issuer, announced its VASP registration in France. Coinbase is a stakeholder in Circle, known for its USD-pegged USDC stablecoin.</p><p dir="ltr">“Achieving VASP status in <a href="https://www.financemagnates.com/tag/france/">France</a> allows us to continue to grow globally in the best possible way, onboarding the next 1 billion people into crypto while ensuring consumer’s assets are secure and that compliance is prioritized,” said Daniel Seifert, the Vice President and Regional Managing Director, EMEA at <a href="https://www.financemagnates.com/tag/coinbase/">Coinbase</a>.</p><p dir="ltr">“France has a thriving web3 ecosystem, and we are excited at the prospect of contributing to it,” he added.</p><p dir="ltr">Indeed, according to a survey by Toluna, 20 percent of French adults hold cryptocurrencies, and another 24 percent want to get the asset class in the next 12 months. This data shows that the demand for cryptocurrency is high in that country.</p><blockquote><p lang="en" dir="ltr">Bonjour la France.