According to records held by the French financial regulator l’Autorité des Marchés Financiers (AMF), the bank’s crypto subsidiary SG Forge was registered at the end of September for three activities related to trading cryptocurrencies.
Providers must register with the AMF in France before they can offer services such as custody of crypto or operating a trading platform.
SG Forge’s registration covers the custody, purchase, sale, and exchange of digital assets. It has yet to register for operating a trading platform.
Société Générale, which is France’s third-largest lender by market cap, had not responded to a request for comment from Decrypt at the time of publication.
SG Forge began in 2018 as one of 60 internal startups created within Société Générale. It has since taken the lead on the bank’s blockchain projects, partnering with both Tezos and ConsenSys for its experiments with creating a French central bank digital currency (CBDC).
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