Société Générale subsidiary Forge has become the first entity to obtain a crypto services license in France, according to a July 19 announcement.
The company is the blockchain subsidiary of France’s third-largest bank, Société Générale. It is currently the only firm to hold France’s digital asset service provider (DASP) license, which is offered by the Autorité des Marchés Financiers (AMF).
The firm said that, in addition to helping it meet demand from institution clients, the license will help it to develop its Euro CoinVertible (EURCV) stablecoin.
Société Générale Forge also acknowledged that the license would help it prepare to work within Europe’s upcoming MiCA regulations. In a report, Bloomberg explained that crypto services will be required to have a license from an EU member state in order to operate under the region’s MiCA rules starting in January 2025.
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Policy and Regulation
