With the upsurge of cryptocurrency, Banque Delubac & Cie became the first French bank to register with AMF (Financial Markets Authority) and the ACPR (French Prudential Supervision and Resolution Authority) as a Digital Asset Service Provider (DASP) to offer regulated crypto services.
The bank announced the offer would be available at the end of April but it seems to be delayed. In the press release of 14th April, it was mentioned that the offer will make it possible to invest in digitized or tokenized real assets as well as NFTs. Further, it will allow access to staking. Other crypto assets will be made available as per clients’ demand.
Additionally, it stated that the bank will be focusing on institutions looking to provide secure digital asset custody to their clients, and individuals looking to buy, sell, and hold crypto assets. Initially, the first three digital assets offered will be Bitcoin, Ethereum and Tezos.
The Delubac & Cie bank will enable customers to invest in crypto assets with the highest level of security possible. Client assets will never be pooled. Instead, each client portfolio will correspond to a separate private key.
With this, the bank has established itself as the first French bank to obtain the status of “DASP”, allowing funding in digital property, in collaboration with Swiss crypto infrastructure supplier Taurus. The DASP license is the result of a 2019 French law known as the PACTE law, which stands for Action Plan for Business Growth and Transformation.
Previously, French President Emmanuel Macron revealed his support for Web3 and blockchain technology but still restated the need for a pan-European approach to regulation.
An increasing number of large international banks have chosen to enter the crypto market. This month, Bison Bank became the first Portugal crypto licensed bank to provide virtual asset services for crypto.
