Societe Generale-Forge Registers as Digital Asset Provider in France

Societe Generale-Forge Registers as Digital Asset Provider in France
  • The overall assets of Societe Generale make it the third-biggest French bank.
  • Earlier this year in June, Societe Generale-Forge formed a partnership with Metaco.

Societe Generale-Forge, the digital assets division of Societe General Group, has officially registered with the French financial authority, the Autorité des marchés financiers (AMF). The overall assets of Societe Generale make it the third-biggest French bank.

A search of the AMF’s list of registered DASPs reveals that Societe Generale-Forge became authorized on September 27. The firm may now legally operate in France providing a custody service for digital assets, buying and selling digital assets for fiat currency, and trading digital assets against one another.

Banking Level Safety

According to its website, Societe Generale-Forge offers comprehensive services to issuers and investors in order to facilitate the issuance, investment, and management of digital-native security tokens registered on public blockchains.

The French Bank stated:

“Societe Generale is now offering a range of capital market products to institutional clients under a native security token format on Ethereum and Tezos with full banking level safety and regulatory compliance.”

The asset management firm Societe Generale Securities Services (SGSS) announced last month that it will begin providing new services for the creation of cryptocurrency-based innovative professional funds.

Earlier this year in June, Societe Generale-Forge formed a partnership with Metaco, a supplier of digital asset management technologies and infrastructure, “to orchestrate its digital asset custody operations.”

The Bank added:

“Due to their innovative characteristics, they have the potential to significantly improve efficiency, speed and transparency in financial markets and make transactions safer and more resilient — all while offering benefits similar to those of financial instruments issued in a conventional way.”

Societe Generale Securities Services (SGSS) revealed last month that it is now providing additional services for asset management firms looking to create new cryptocurrency-based professional funds.

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Content writer by profession. A crypto lover and has passion for writing. Follows the developments of digital currency right from its launch, years ago.