The French Bank Delubac & Cie is the first regulated digital asset services
The French Bank Delubac & Cie is the first regulated digital asset services
- Other EU banks will soon offer their customers digital assets, says the CEO of Taurus
- French DASP license prepares banks to comply with EU-wide regulations
Switzerland has long been considered the crypto capital of Europe, whose home the canton of Zug-called "Crypto Valley"-is About a thousand blockchain-startups . But the countries in the EU are picking up.
A recently published report has placed Germany at the top of the crypto -friendly ranking worldwide, which is mainly due to the introduction of custody and the trade of digital assets by German banks. This pattern seems to be continuing all over the continent, since the French Banque Delubac & Cie, founded in 1924, was the first to receive the status of a digital asset service provider ("DASP"), which enables Swiss crypto infrastructure providers Taurus.
The DASP license comes from a law of 2019 in France-the Pacte Act or Action Plan for Corporate growth and transformation (" Plan d’Artung Pour La Croissance et la transformation of the entreprises" ) and should prepare the banks well for the next phase of EU regulation, said the Mica co-founder of Taurus, Lamine Brahimi, opposite block works.
The Mica Ordinance ("Markets in Crypto-Assets"), which was introduced in 2020 and is working towards adopting in 2023, is the first EU-wide legislative initiative to create a comprehensive framework for the expenses and provision of services for crypto assets.
Until recently, according to Brahimi, it was unclear whether or how quickly traditional banks such as Delubac & Cie would go to offer their customer base digital assets. Perhaps you would leave the room to unregulated companies - companies without a bank license. But Brahimi is now confident that further established banks will follow."You can assume that demand will now become a mainstream," said Brahimi and added: "It's not just theory."
About half of Europeans prefer according to A current report from Spain, the France and Germany as the two best crypto -friendly countries in Includes Europe. But there is a broad part of the European public who welcomes investor protection, which results from dealing with a regulated bank, said Brahimi.
"If you are an expert for the management of wallets and do it yourself and want to secure your private keys yourself, this is okay, but the vast majority of people out there simply do not want to manage this complexity, and you want to buy cryptos or tokenized securities or whatever, just as you can buy stocks, and report this in your consolidated bank reporting."
These fence sitter may have an interest in trading digital assets, but they prefer to deal with their existing daily bank instead of setting up new accounts with crypto -specific companies.
If this is the case, infrastructure partners such as Taurus who work with banks in Germany, Switzerland, France, Spain and Eastern Europe will benefit from this, since large institutions prefer to buy or licens a product from a service provider rather than develop-house cryptography and specialized IT know-how that is needed for safe custody.
"Now that the first few banks have taken the step, we received several calls from players who asked us: 'How can we get progress?'
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The article French Bank, Delubac & Cie, First to Offer Regulated Digital Asset Services is not a financial advice.