The investment arm of insurance giant Axa has obtained the status ( PSAN ) of Digital Asset Service Provider (DAP) in France.
On Tuesday, AXA Investment Managers landed a PSAN registration with the French Financial Markets Authority (AMF) allowing the investment management company to offer, in France, services for buying, trading and holding digital assets, including cryptocurrencies like Bitcoin.
As a reminder, this PSAN status is essential and mandatory for any company that wishes to offer crypto trading or storage services on French territory.
While several crypto companies, such as the giant Binance, also have the famous PSAN sesame, some companies in the traditional finance and insurance sector are becoming increasingly interested in the booming crypto sector.
Two other companies also obtained PSAN registration yesterday. Ouro Capital, a new crypto platform “designed for investors and their financial advisors” and Optimisation Technologies SAS, the publisher of the Climb service.
The Assembly recently adopted an amendment discarding the principle of mandatory licensing for crypto players in France. Instead, new entrants inherit new expectations in exchange for maintaining registration.
On its website, the AMF reminds that a company must register as a PSAN if it wishes to offer services:
- custody of digital assets; and/or
- purchase or sale of digital assets in legal tender; and/or
- exchange digital assets for other digital assets; and/or
- operating a trading platform for digital assets.
