for the first time in France, a bank will accept bitcoin

for the first time in France, a bank will accept bitcoin

A large French bank has just obtained its PSAN registration, a first step towards opening up to crypto assets.

While crypto exchanges are becoming more and more common internationally, France is no exception to the phenomenon. Still far from El Salvador and a few other countries, which now consider non-fiat currencies as legal currencies, France has just taken a step towards the normalization of cryptos. The private bank Delubac & Cie has just obtained its PSAN registration (Provider of Services on Digital Assets) with the Financial Market Authority (AMF).

What is a PSAN?

Very hard to get the PSAN allows a company to justify its activity in digital assets. In France, 30 companies already have this approval, but they are systematically private firms specializing in cryptos. By becoming the country’s 31st PSAN, Delubac & Cie is also establishing itself as the very first bank to seriously invest in non-fiat currencies. Founded in 1924, the almost century-old establishment was until now not at all specialized in bitcoin and blockchains.

Bitcoins soon on our bank accounts?

In a post published on its site, the bank specified the services it would offer in a few weeks: “Initially, the first three digital assets on offer will be Bitcoin, Ethereum and Tezos. This offer will make it possible to invest in digitized or tokenized real assets as well as NFTs (Non Fungible Token, non-fungible token) and to have access to staking”.

Concretely, it will therefore be possible to invest in the bitcoin, ethereum and tezos. The bank will be responsible for storing and securing the crypto assets of its customers, but also their possible NFTs, these non-fungible tokens often assimilated to digital art. A classic bank account, but for digital currencies in short.

Even the banks “historical” start betting on cryptos. It must be said that despite their volatile price, non-fiat currencies have experienced exponential growth in recent years. It is therefore not surprising that banking establishments are beginning to invest massively in new currencies. For several years now, Société Générale has been particularly interested in Tezos. If crypto is not as well known as the bitcoin and ethereum protocols, it occupies a place of choice in France, especially with banking establishments.

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