AMF grants license to operate crypto services for France's third largest bank
French banking giant Société Générale is licensed to operate digital asset services, through its subsidiary Forge.
Listen to this article
Bank Société Générale was granted a license by the Autorité des Marchés Financiers (AMF), France's financial markets regulator, to operate as a digital asset service provider in the country last month. .
Founded in 1864, with total assets of more than $1.6 trillion as of 2021, Société Générale is the third largest French bank and the sixth largest in Europe .
Since last month, through its blockchain subsidiary Societe Generale Forge, the banking giant has opened custody, trading and trading services for digital assets. The latest decision received from the AMF means that French venture capital firms are looking to deposit their token investments, through one of the most famous banks.
Over the years, overseas crypto companies are continuing to position France as a major European blockchain hub. Last week, Crypto.com announced a $145 million investment in France, "expanding" its operations in the country and setting up its regional headquarters in Paris.
Along with Crypto.com, other cryptocurrency exchanges such as Luno and Binance have applied for a license to operate in France, on the way to realizing the dream of a blockchain technology hub.
In addition, Binance also launched a $115 million initiative to develop blockchain and crypto ecosystems in France in April, which CEO Changpeng Zhao praised as the only favorable position to lead. crypto industry in Europe at Blockchain Week Paris 2022.
Oct 17, 2022