Financial conglomerate Société Générale has just received a digital asset service provider license from the French Financial Market Supervisory Authority (AMF) through its subsidiary Forge.
Since September, the company can offer its clients services focused on the storage, sale and trading of digital assets.
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The license has been issued with the consent of the Office of Prudential Control and Dispute Resolution.
The company, along with BNP Paribas, Crédit Agricole and Groupe BPCE, is one of the big four French banks. As of June 30, the conglomerate's consolidated balance sheet was valued at €1,539 billion. Of this, more than €500 billion is customer deposits.
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Forge, which was founded back in 2018, is a fully integrated subsidiary of the group. The company is focused on providing services and developing solutions related to distributed ledger technology.