Societe Generale becomes a digital-asset provider in France

Financial group Societe Generale, through its subsidiary Forge obtained licence to operate as a digital-asset service provider from France’s financial markets regulator AMF.

According to regulator’s registry, since September 2022 Forge can offer clients services focused on custody, sale and trading of digital assets. The licence was issued with the consent of the Prudential Control and Dispute Resolution Authority.

Societe Generale, along with BNP Paribas, Crédit Agricole and Groupe BPCE, is part of the ‘big four’ French banks. As of 30 June 2022, the group’s consolidated balance sheet is valued at €1.539 trillion. Of this, more than €500 billion are client deposits.

Founded in 2018, Forge is a fully integrated subsidiary of the group. The company focuses on providing services and developing solutions related to distributed ledger technology. Its first structured Tezos-based product was launched in April 2021.

Earlier in May 2022, the Bitcoin exchange Binance also obtained a license from the AMF.

In September, the regulator registered the Crypto.com platform as a provider of digital asset services.

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