French banking giant Societe Generale’s subsidiary, Forge, has been issued with the first crypto services license issued under the country’s crypto assets laws. According to France’s Autorité des Marchés Financiers, the license allows Forge to offer services which include crypto custody, trading, and sales.
License Said to Enable Forge to Meet Institutional Demand for Digital Assets
Forge, the crypto division of France’s banking giant Societe Generale, recently received what is being described as the first crypto services license issued under the country’s crypto assets laws, a report has said. French market regulator Autorité des Marchés Financiers (AMF) stated on its website that the license allows Forge to offer services which include crypto custody, trading, and sales.
According to a Reuters report, the license given to Forge does not subject the Societe Generale’s subsidiary to the same onerous rules faced by other crypto entities, particularly in the areas of corporate governance, information technology, and compliance.
Jean-Marc Stenger, the CEO of Forge, said the license enables his company to meet demand from institutional clients for digital assets.
“This step will allow us to continue supporting our institutional clients wishing to benefit from services on digital assets that meet the highest standards of compliance and banking security,” Stenger said.
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