France’s Third Largest Bank Licensed to Operate Crypto Services

    French banking giant Société Générale was licensed by Autorité des Marchés Financiers (AMF), France's financial markets regulator, to operate digital asset services, through its subsidiary Forge.

    Founded in 1864, with total assets of more than $1.6 trillion as of 2021, Société Générale is France’s third-largest bank and the sixth-largest in Europe.

    Since last month, through its blockchain subsidiary Societe Generale Forge, the banking giant has opened custody, and trading services for digital assets. The latest decision received from the AMF means that French venture capital firms are looking to deposit their token investments through one of most prominent banks.

    In the past time, overseas crypto companies are continuing to position France as a major European blockchain center. Last week, announced a $145 million investment in France, expanding its operations in the country and setting up its regional headquarters in Paris.

    Along with, other crypto exchanges such as Luno and Binance have applied for a license to operate in France, on the way to realizing the dream of a blockchain technology center.

    In addition, Binance also launched a $115 million initiative to develop blockchain and crypto ecosystems in France in April, which CEO Changpeng Zhao praised as the favorable leading position of crypto industry in Europe at Blockchain Week Paris 2022.

    Changpeng Zhao – CEO Binance

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