The two French banks Delubac & Cie and SG Forge have obtained MiCA approval to offer their crypto services in Europe. What areas are covered by these new licenses?
Delubac & Cie and SG Forge obtain MiCA approval
On Thursday, SG Forge and Delubac & Cie obtained MiCA approval to serve the entire European crypto market, as shown in the Autorité des marchés financiers (AMF) white list:
At the time of writing, SG Forge has not yet communicated on the news, but two services have been approved, namely the custody and administration of crypto-assets on behalf of clients, and the provision of crypto-asset transfer services on behalf of clients.
As for Delubac, the scope of this approval is much broader and covers the following seven services:
- Custody and administration of crypto-assets on behalf of clients;
- Exchange of crypto-assets for funds;
Exchange of crypto-assets for other crypto-assets;
Execution of orders on crypto-assets on behalf of clients;
Provision of advice on crypto-assets;
Provision of crypto-asset portfolio management services; - Providing crypto-asset transfer services on behalf of clients.
For Joël-Alexis Bialkiewicz, managing partner of Banque Delubac & Cie, this new regulatory step is part of a broader project for the bank:
Crypto-assets are no longer just a trend: they have established themselves as a new asset class in their own right. Their adoption by both private and institutional investors is accelerating. Our ambition is to contribute to this adoption by offering a range of services that combines the innovation inherent in crypto-assets with the solidity of an independent bank. Delubac & Cie thus aims to become a leading player in supporting its clients through this lasting transformation of finance.
Last June, CACEIS, a subsidiary of Crédit Agricole, was the first French bank to obtain MiCA approval. With these two new players, this once again demonstrates the banking sector’s ambitions with regard to the blockchain ecosystem.
