Societe Generale Unit Gets France’s First Crypto License
- Forge awarded permissions to act as custodian, trade crypto
- License will help meet demand from institutional clients: CEO
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Societe Generale’s blockchain unit received the first license issued under France’s new crypto rules, ramping up the investment bank’s expansion into digital assets.
Societe Generale Forge was designated a digital asset service provider, or DASP, by France’s Autorité des Marchés Financiers on Tuesday, according to the regulator’s website. The license will enable Forge to meet demand from institutional clients for digital assets, Forge Chief Executive Officer Jean-Marc Stenger said in a statement Wednesday.