France’s 3rd Largest Bank Societe Generale’s Subsidiary Obtains Registration as Digital Asset Service Provider – Regulation Bitcoin News

Societe Generale-Forge, a subsidiary of France’s third-largest bank, has obtained registration with the Autorité des marchés financiers (AMF), the French financial markets regulator, as a digital asset service provider.

Societe Generale’s Subsidiary Registers as Digital Asset Service Provider

The digital asset subsidiary of Societe General Group, Societe Generale-Forge, is now registered with France’s financial regulator, the Autorité des marchés financiers (AMF). Societe Generale is France’s third-largest bank by total assets.

According to the AMF’s list of registered Digital Asset Service Providers (DASPs), Societe Generale-Forge obtained registration on Sept. 27. This company has been authorized to provide digital asset custody, legal tender purchase and sell, as well as the trade of digital assets against digital assets elsewhere in France.

Societe Generale-Forge is a provider of end-to-end services for investors and issuers to manage and invest digital-native security coins registered on public blockchains. The website provides more details:

Societe Generale offers institutional clients a wide range of capital markets products in an native security token format on Ethereum, Tezos. This allows for full regulatory compliance as well as banking level safety.

Societe Generale Securities Services, (SGSS), announced last month it had begun providing new services for asset managers looking to build innovative professional funds based in cryptocurrencies.

In June, Societe Generale-Forge partnered with Metaco, a provider of digital asset management technology and infrastructure, “to orchestrate its digital asset custody operations.”

“Security tokens allow for a fully digital issuance process and lifecycle,” the bank detailed, adding:

Due to their innovative characteristics, they have the potential to significantly improve efficiency, speed and transparency in financial markets and make transactions safer and more resilient — all while offering benefits similar to those of financial instruments issued in a conventional way.

What do you think about Societe Generale-Forge obtaining registration with France’s financial regulator as a digital asset service provider? Comment below.

Kevin Helms

Kevin is a graduate of Austrian Economics. He discovered Bitcoin in 2011, and has been an advocate ever since. His main interests are in Bitcoin security, open source systems, network effects, cryptography, and intersections between economics, cryptography, and Cryptography.

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