A few weeks ago, few people had heard of Deblock, a French fintech which seemed to be drowning in the mass of French startups. But the company has recently made its mark. After orchestrating a fundraising of 12 million euros on April 9, the neobank announced the launch of a hybrid bank account offer, accepting both deposits and withdrawals in euros and cryptocurrencies. If you haven’t heard of it yet, that’s pretty normal since the company was only launched in 2023, by former members of the neobank Revolut and the crypto wallet Ledger. A perfect blend of its two founding influences, it positions itself at the crossroads, between traditional and decentralized finance. Its declared ambition is as simple as it is ambitious, since it intends to make the use of cryptos as simple on a daily basis as that of traditional money.
Deblock app interface © Deblock
A current account with a self-managed crypto wallet
The particularity of Deblock lies in its self-managed cryptocurrency portfolio. Unlike “crypto-friendly” online banks like BoursoBank, N26 or Revolut, which allow you to buy cryptos, Deblock goes further by fully integrating them into your account. But above all, it gives its clients full control of their digital assets. The connection with the Ledger portfolio is quite obvious. This will not surprise readers familiar with cryptos, but Deblock would like to reassure its potential customers by reminding that no one can have access to this wallet. Not even his employees. The company also specifies that users’ cryptos are thus protected, even if Deblock disappears. An approach faithful to the principle “not your keys, not your coins” dear to crypto enthusiasts, which guarantees security and financial sovereignty since no operator holds your assets.
Deblock application interface. © Deblock
A launch in France before a European expansion
As a new entrant in a field as specific as online banking, Deblock particularly highlights its official status as an electronic money institution (EME) and its accreditation with the Financial Markets Authority as a service provider. on digital assets (PSAN). Approvals which ensure a regulated and reassuring framework. The launch of the crypto offer comes in a favorable context, notably thanks to the approval of the first spot Bitcoin ETFs in the United States at the start of the year. A strong signal of the growing adoption of cryptos, which Deblock hopes to take advantage of with its general public offering. The neobank is also targeting 200,000 customers in France by the end of 2024, before expanding to other European countries such as Spain and Italy. The 12 million raised will also finance obtaining the MiCA license, the key to conquering Europe. Deblock is therefore pursuing several very ambitious objectives. But to achieve them, we will have to start by convincing the general public of the usefulness of a bank account unifying euros and cryptos…