SG Forge has been licensed to buy and sell, exchange and store digital assets since July 18, the AMF said in an official announcement. The license requires the firm to maintain registration in France and “comply with certain requirements in terms of organization, financial resources and business conduct.”
Dozens of crypto firms, including the world’s largest exchange Binance, have applied to the AMF. However, it was France s third-largest bank by market capitalization that was the first to receive a license.
SG-Forge recently launched EUR CoinVertible, a stablecoin pegged to the European currency exchange rate.EURCV runs on the Efirium blockchain and is intended to be a bridge between traditional markets and the digital asset ecosystem.
The AMF has regularly said that cryptocurrency companies that move away from regulatory uncertainty in the US will be welcomed in France.