CryptocurrencyThe increasing adoption and use of cryptocurrencies has also attracted the banks from the institutional side to the crypto sector.
At this point, many banks offer crypto money services to their customers. one of these banks French banking giant Societe Generale it happened.
According to the news of CoindeskSG Forge, the cryptocurrency division of Societe Generalehas become the first French company to receive a license from the country’s financial regulator to provide crypto services in France.
The world’s largest cryptocurrency exchange Binance While many crypto platforms such as AMF have registered with AMF, it became the first bank to obtain a crypto license from AMF, the crypto division of France’s third largest bank by market capitalization.
The country’s Financial Markets Authority (AMF) said in a statement that SG Forge will be able to provide services for trading, clearing and custody of digital assets as of July 18, 2023.
French banking giant Societe Generale is actively involved in the cryptocurrency space. At this point, the bank offered its corporate customers in April last year. Ethereum (ETH) based “EUR CoinVertible” announced that they will launch a stablecoin named stablecoin.
EUR to be pegged to Euro CoinVertible by company “digital asset designed to meet the expectations of institutional investors” was defined as.
*Not investment advice.
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