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Association for the Development of Web 3 Professionals president: 'More and more French people are owning crypto-assets'

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Association for the Development of Web 3 Professionals president: 'More and more French people are owning crypto-assets'
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Faustine Fleuret, president of the Association for the Development of Digital Assets | X/faufleuret

Faustine Fleuret, president of the Association for the Development of Web 3 Professionals, has stated that an increasing number of French citizens are embracing cryptocurrencies. According to her, these individuals are using digital assets as a means to "diversify their savings" and to "gain access to decentralised finance." Fleuret shared these insights with Crypto Republique via email on April 18.

"Since the first edition of our study, more and more French people are owning crypto-assets: at the beginning of 2024, 12% of the population will be holding them, representing 6.5 million investors in France and a 28% increase on last year," said Fleuret. "Crypto-assets, in particular crypto-currencies, are seen as an asset class that allows investors to diversify their savings (as we can see that crypto holders are also equity holders). There has been an increase in the proportion of French people's savings invested in crypto-currencies. But beyond the role of crypto-currencies as an investment medium (with a longer holding horizon) and as a safe haven, the rise in adoption in France can also be explained by people's greater understanding of the general and multifaceted usefulness of crypto-assets: the French are acquiring stablecoins primarily to gain access to decentralised finance (DeFi), and are increasingly interested in NFTs for their various applications, particularly in video games."

In March, Adan published a report which detailed the findings of its third annual survey on Web3 and digital assets in France and Europe. The study was conducted in collaboration with KPMG and the Ipsos polling institute. According to this report, 12% of France's population, or approximately 6.5 million individuals, currently own digital assets. This figure marks an increase from the previous year's percentage of 9.6%. Furthermore, 22% of respondents who do not currently own digital assets expressed plans to acquire them in the future. The survey also revealed that 24% of French crypto investors fall within the age bracket of 18-24 years, while 57% are under the age of 35.

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The same report showed comparable rates of crypto adoption in other European countries such as the Netherlands (17%), United Kingdom (16%), Germany (12%), and Italy (11%). These results were based on responses from 2,001 French participants and roughly 1,000 respondents each from Germany, United Kingdom, Italy, and the Netherlands.

Adan was established in Paris by eleven French digital asset and blockchain professionals in January 2020. As per information available on the organization's website, original stakeholders included Ledger, Kaiko, ARK Ecosystem, and ConsenSys France. Adan maintains that while France already boasts "one of the best adapted and most innovative legal frameworks in the world for the development of activities related to digital assets," its establishment would help ensure France's competitiveness in the digital asset space.

Fleuret assumed the role of Adan's president in May 2021, having previously served as the organization's head of strategy and institutional relations. According to her LinkedIn profile, she is also a lecturer at the University of Paris I: Panthéon-Sorbonne and a member of the Laboratory of Excellence for Financial Regulation. Prior to her tenure at Adan, Fleuret worked as finance and regulatory strategy lead at ConsenSys.

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