This is big news in France. After cryptocurrencies, it is up to banks to obtain PSAN (Service Provider on Digital Assets) registration with the Autorité de Marché Financiers (AMF). The precious sesame is very hard to win and paves the way for cryptocurrencies for the lucky owner.
Bank to finally offer cryptocurrency services in France
France registered a new player as PSAN, bringing the total to thirty-one. But the latest winner to join the list of service providers differs from the previous ones. In fact, this time it is a bank that enters the business and not a company specializing in cryptocurrencies, which immediately fits in with this type of service.
And the nuances are important. Delubac & Cie is not only an independent financial institution, but also a PSAN different from the previous 30. The bank was founded in 1924 and offers a wide range of services to companies, individuals and administrators.
This almost century-old institution is not at all specialized (a priori) in cryptocurrencies and blockchain, which could theoretically be a further obstacle (in addition to the reluctance of the French environment) to offer these services. This shows a real willingness to embrace modernity and, even more so, the future. Because, as you probably already know as you read these lines, Bitcoin and cryptocurrencies are here to stay.
A Bitcoin token for the French flag, the PSAN certified by Delubac and Cie approaches Bitcoin and cryptocurrencies.
Courtesy of PSAN: Bitcoin, Ethereum and Tezos on the menu.
In its blog, the Delubac & Cie bank even specifies the scope of the services it will offer in a first phase.
initially, the primary 3 digital assets provided will be Bitcoin, Ethereum and Tezos. These offerings will allow people to invest in digitized or tokenized real assets, as well as NFTs (Non-Fungible Tokens) and have access to strike. "
It will then be possible to buy ETH and XTZ BTC and entrust them to the institution that will hold them on behalf of its customers. If the presence of the two largest cryptocurrencies in the sector surprises no one, the availability of Tezos (XTZ) may pose a challenge at first glance. The protocol only ranks 48th on the list of the largest cryptocurrencies. However, this protocol is at the forefront in France, especially among institutions and the banking sector.
Société Générale has been interested in Tezos and its solutions for several years, in particular for issuing 'tokenized' securities. The registration as a PSAN of a French bank is therefore an interesting step forward for the tri-color cryptocurrency.
French banks are also starting to offer cryptocurrency services. Get ahead of the curve and prepare for the future by registering on the Swissborg reference platform. Up to €100 of free cryptocurrencies await you (affiliate link, in exchange for a minimum deposit of €50).