Société Générale will provide cryptocurrency custody services

by in Cryptocurrency News

Société Générale

A license to deal with digital currencies has been given to Société Générale by the French Financial Market Authority (AMF).

For the past few years, this banking behemoth has been considering blockchain technology.

A unique division of Forge Bank is responsible for conducting market research and developing new services. It will now start offering services for cryptocurrency storage and trading. The Metaco team, which is working to develop the infrastructure for digital asset transactions, is partnered with Société Générale.

The licensing system for cryptocurrency businesses is in France. When dealing with cryptocurrency, AMF registers them as middlemen (DASP).

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Voyager, Bitpanda, Binance, and Etoro have already been added to the list of such businesses.

Recently, French Finance Minister Bruno Le Maire told reporters that the French government is preparing to change the taxation of participants in the cryptocurrency market.

The policy in this area will be gradually relaxed to stimulate the development of businesses focused on the blockchain industry.