FORGE Obtains AMF License For Crypto
FORGE, the cryptocurrency division of Société Générale, one of France’s largest commercial banks, has achieved a significant milestone in the world of digital assets. On July 18, FORGE obtained the authorization from the Autorité des Marchés Financiers (AMF), the French financial markets regulator, to operate as a Digital Asset Service Provider (DASP).
FORGE, the cryptocurrency division of Société Générale, one of France's largest commercial banks, obtained the AMF license on July 18, which can provide digital asset custody, purchase/sale of digital assets with legal tender, digital assets and other digital assets. Services for…
— Wu Blockchain (@WuBlockchain) July 19, 2023
FORGE’s AMF License
This license granted by the AMF enables FORGE to offer a range of services related to digital assets. These services include custody of digital assets, facilitating the purchase and sale of digital assets using legal tender, conducting transactions with digital assets, and executing orders on behalf of third parties for digital asset transactions.
FORGE’s commitment to the digital asset space became evident earlier this year when they launched CoinVertible, a stablecoin pegged to the euro, on the Ethereum blockchain. The introduction of CoinVertible aimed to provide stability and reliability within the cryptocurrency market, as it is backed by a major commercial bank. The AMF license strengthens FORGE’s position as a trusted and regulated entity within the cryptocurrency industry. It underscores the bank’s dedication to complying with the necessary regulatory frameworks and upholding the highest standards of security and transparency.
FORGE’s DASP Authorization
With the rise in interest and adoption of cryptocurrencies, the need for reliable and regulated services has become paramount. FORGE’s authorization as a DASP by the AMF highlights the increasing recognition and acceptance of digital assets in the mainstream financial sector.
As the crypto market continues to evolve, the licensing of DASPs by regulatory bodies such as the AMF plays a crucial role in providing a safe and secure environment for investors and users. It helps to foster trust and confidence in digital asset platforms, facilitating further growth and innovation in the industry. FORGE’s successful acquisition of the AMF license positions them as a key player in the digital asset landscape, capable of delivering comprehensive and compliant services to individuals and institutional clients alike.
