Societe Generale Advances in Crypto Space with Registration of Digital Asset Services

The major French bank has been registered by the country's stock market regulator to provide custodial, buy/sell and trading services on September 27, but did not make the announcement.

On September 27, the Autorité des marchés financiers (AMF), the Financial Markets Authority, approved French bank Société Générale as a digital asset service provider. Société Générale has joined international operators such as Voyager, Bitpanda, Binance and Etoro as registered DASPs. The bank has not announced its approval.

Societe Generale's digitally-focused subsidiary Forge has been registered to provide custody of digital assets, purchase/sale of legal tender digital assets and trading of digital assets for foreign exchange. other digital assets. The French bank announced in June that it is partnering with Metaco, a digital asset management and infrastructure provider, to expand its digital asset custody business.

Registration is compulsory for companies carrying out these activities in France. The AMF also licenses DASPs, although none have yet been licensed.

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Several companies received AMF approval on September 27, including Crypto.com, which later announced plans to build its European headquarters in Paris on October 12.

Societe Generale was founded in 1864 and is the third largest bank in France and the sixth in Europe in terms of assets. This ...