Crypto exchange Kraken has completed a 21-stop tour across France to connect with users in the regions. This initiative highlights the company's strategy to deepen its presence in the French market.
Unprecedented Tour Format for the Crypto Industry
Kraken organized its tour based on a unique geometry: 21 stops forming the shape of the exchange’s logo. This number mirrors the maximum of 21 million bitcoins (BTC) that will exist.
The tour began in Paris at the Proof of Talk conference, then crossed the east (Strasbourg, Mulhouse, Dijon), center (Annecy, Lyon, Clermont-Ferrand), south (Avignon, Cannes, Marseille), west (Bordeaux, Nantes, Rennes), and north (Lille, Amiens).
Each stop offered various formats: meetups, educational workshops, AMA (Ask Me Anything) sessions, and local cultural events. In Bordeaux, the exchange organized a wine contest with a Bitcoin twist. In Marseille, there was a pétanque tournament with Kraken-branded balls.
This approach contrasts with traditional crypto events, which are generally concentrated in major European capitals. According to Kraken’s internal documents, the objective was to decentralize adoption and humanize the relationship with users.
Regional Strategy Against Competitors
This strategy unfolds against a competitive backdrop in the French market. Kraken has held PSAN (Digital Asset Service Provider) status from the AMF since 2021 and complies with the new MiCA and MiFID II regulations in 2024.
The exchange leverages its regulatory legitimacy to differentiate itself and strengthen its position in the French market. This regulatory advantage represents an important asset facing sector challenges.
Survey data shows that 64% of French respondents express an intention to invest in cryptocurrencies. Growth potential remains significant, particularly outside major urban centers.
"This tour reinforces Kraken’s aspiration to become the leading crypto exchange in France," states the company’s post-tour report.
KRAK: The Crypto Payment App at the Heart of Strategy
The tour served as a launch pad for KRAK, Kraken’s new crypto payment application. This app allows users to use cryptocurrencies as a real payment method, everywhere, simply.
The timing is indeed relevant. Crypto payments are gradually gaining traction in France, with initiatives from local merchants in Cannes now accepting cryptocurrencies.
The KRAK application aims to respond to this evolution by offering a regulated and secure solution. Each stop allowed for gathering direct user feedback on the product.
This grassroots approach to the product launch contrasts with traditional digital campaigns. Kraken relies on human contact to promote adoption of its payment solution.
This initiative could inspire other players in the crypto industry to adopt similar strategies. Kraken's 'grassroots' approach marks a turning point in French crypto communication.
