(CercleFinance.com) – Societe Generale announced on Wednesday that its subsidiary SG-Forge had received the status of digital asset service provider (PSAN) from the AMF, making it the first player in the sector to obtain such approval.
“Achieving the PSAN accreditation constitutes the highest level of regulatory certification currently possible in activities related to digital assets”, underlined the French bank.
“This registration demonstrates a comprehensive level of security and compliance with standards, internal control and cybersecurity systems and processes, but also the maintenance of a sufficient level of regulatory capital,” added SG.
Created in 2019, Société Générale-Forge provides issuers, managers and investors with end-to-end services to issue, invest and manage crypto assets and digital assets, in particular through the structuring of native issues of digital debt securities for clients.
The PSAN approval comes as the European Crypto-Asset Regulation (MiCA) – supposed to establish uniform rules for issuers of crypto-assets – is due to come into force next year.
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