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French Bank to Offer Bitcoin Buy/Sell and HODL Services -Breaking

by Mike Robinson

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© Reuters. French Bank offers Bitcoin buy/sell and HODL services
    • Delubac & Cie plans to offer buy/sell and HODL services.
    • Recently, the bank was registered as a PSAN.
    • Europe moves towards crypto adoption

French bank Delubac & Cie becomes the first to offer Bitcoin buy/sell and HODL services.

The traditional bank was only recently registered as a PSAN, or Digital Assets Service Provider. Also known as Digital Asset Service Providers (or PSAN), the PSAN was issued by the AMF and ACPR (Prudential Control and Resolution Authority).

“The DASP license stems from a 2019 law in France and it should prepare banks well for the next phase of the EU regulation — Markets in Crypto-assets (MiCa),” says Taurus co-founder Lamine Brahimi.

In 2020, the MiCA regulations were adopted. It is on its way to being adopted in 2023, not surprising. It is also the first EU-wide legislation initiative to establish a comprehensive framework for the provision and issuance of crypto assets services.

A recent Bank of Spain report found that more than half of Europeans prefer to use decentralized platforms. According to the report, France and Germany are two of Europe’s most crypto-friendly countries.

“But there’s a wide swath of the European public that welcomes the investor protections which come from dealing with a regulated bank,” said Brahimi. Because most Europeans do not have expertise in managing their wallets, Brahimi believes the demand is becoming mainstream. He adds that although fence-sitters may be interested in trading, they prefer dealing with banks to opening new accounts at crypto-dedicated businesses.

Delubac & Cie is an independent French bank founded by Maurice Delubac in 1924 in Cheylard. There are branches located in Paris, Le Cheylard and Lille.

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