The rise of crypto banks in France: what does it mean for investors?
Crypto-assets have taken the financial world by storm over the past decade, offering unprecedented investment and transaction opportunities. In France, the crypto ecosystem has reached an impressive level of maturity, with the emergence of crypto banks, financial institutions that merge the traditional and digital worlds.
In this article, we’ll explore what the rise of crypto banks in France means for investors, focusing on the benefits that come with this revolution.
Crypto-friendly banks in France: an overview
Crypto banks, also known as “crypto neo-banks”, are financial institutions that integrate digital assets such as Bitcoin, EthereumSecond most important crypto asset by market capitalization. Ethereum blockchain has been launched
in 2015 by Vitalik Buterin, it is also used for other applications such as DeFi and NFTs. and others into their traditional banking offerings. In France, these institutions are emerging to meet the growing demand from crypto-assetDigital asset based on cryptography principles. Peer to peer traded, on a decentralized network, thanks to Distributed Ledger Technologies such as blockchain. The user is integrated into storage and transaction investors and users.
A key feature of crypto banks is their ability to provide bank accounts for businesses and individuals who want to manage their digital assets more easily. These accounts make it possible to:
- store,
- transfer,
- convert cryptocurrencies into traditional currencies more seamlessly.
The advantages of online crypto banks in France
The development of crypto banks in France is so pleasing because they allow individuals to benefit from many advantages that would not have been possible without their arrival.
- Crypto banks simplify the management of digital assets, offering a user-friendly experience thanks to intuitive interfaces.
- They incorporate robust security protocols to protect user assets, which can be reassuring in an ecosystem that is sometimes prone to piracy.
- Users can easily convert their crypto-assets into euros and vice versa, simplifying day-to-day transactions.
- Crypto banks often offer access to a wide range of cryptos, allowing investors to diversify their portfolios.
Crypto banks in France serving Web3New web version using blockchain technology. Decentralized, by the users, for the users. companies looking to become bankable
As well as offering benefits to individual investors, crypto banks in France also present crucial opportunities for businesses operating in the Web3 ecosystem, who commonly struggle to access traditional banking services.
These businesses, often linked to blockchainA blockchain is a type of distributed ledger technology. It is a huge database formed by blocks,cryptographically linked to each other, containing information such as transactions. These blocks are addedfollowing and decentralised applications, face challenges in opening bank accounts and conducting their business seamlessly. Crypto banks are bridging this gap by offering business accounts specifically designed to meet the needs of these businesses.
As a result, these businesses can benefit from essential banking services such as revenue management, supplier payments and the ease of converting their revenues into crypto-assets or fiat currency as required. This financial inclusion strengthens the Web3 ecosystem in France, encouraging the continued innovation and growth of these innovative businesses.
The future of crypto banks in France: a promising development
The rise of crypto banks in France is paving the way for continued and exciting developments in the financial sector. As demand for crypto-asset financial services continues to grow, it is highly likely that these banks will expand their range of products and services. In the near future, we could be looking at digital asset lending, stakingImmobilizing crypto assets on a given period while receiving interests. services, automated portfolio management solutions and even investment banking offerings tailored to the digital world.
In addition, collaboration between crypto banks and regulators could lead to a clearer regulatory framework and even wider adoption of cryptocurrencies in France. These developments promise to strengthen France’s position as a key player in the global crypto-asset economy, while offering new opportunities for investors, businesses and individuals wishing to participate in this financial revolution.
Crypto banks in France offer individuals and professionals a new way of accessing digital assets. With benefits such as ease of use, security and bankability for professionals, they have become an attractive option.
Ultimately, the rise of these institutions marks an important step in the adoption of cryptos in France, opening up new opportunities for those looking to participate in this financial revolution.
Frequently asked questions
What is a crypto-friendly bank?
A crypto-friendly bank is one that allows its customers to make cryptocurrency-related transactions and investments. It can offer services such as opening crypto accounts, authorising transfers to crypto platforms, etc.
Is Boursorama a crypto-friendly bank?
Although Boursorama is a reputable online bank, it is not considered to be particularly crypto-friendly. However, it does authorise certain transfers to crypto platforms and allows the purchase of crypto via certain partners.
Which bank is the most crypto-friendly in France?
There is no bank in France that clearly stands out as the most crypto-friendly. However, some banks, such as Société Générale and Axa Banque, are more open to cryptocurrency-related transactions and investments than others.
Is Delubac a crypto-friendly bank?
Delubac is considered to be one of the most crypto-friendly banks in France. It offers specific services to facilitate the use of cryptocurrencies, such as access to partner crypto trading platforms.
What is a crypto neo-bank?
A crypto neo-bank is an online bank that offers specific services to facilitate cryptocurrency-related transactions and investments. They are generally more open to cryptocurrency users than traditional banks.
Which bank is the most cryptocurrency-friendly in France?
Some banks offer specific services to facilitate the use of cryptocurrencies. Thanks to PSAN approval, Delubac is the first French bank to be able to legally offer digital assets to its customers.
Investing in digital assets involves risks and is not suitable for all investors.
Investors should inform themselves about the risks associated with the various digital assets. In particular, it is emphasised that digital assets can be highly volatile and that investments in digital assets present a risk of capital loss. In this respect, investors are reminded that past performance of digital assets, which may be indicated on the Banque Delubac & Cie website or in documents made available to investors, is not representative of future performance. In addition, investors should inform themselves about the technologies related to each digital asset and their risks, like flaws, defects, piracy, errors, protocol failures or attacks thereon. Banque Delubac & Cie cannot be held responsible for any misunderstanding of the risks associated with digital assets or for any losses that the investor may incur in the event of an error in the address of the portfolio attributable to the investor.
Banque Delubac was the subject of a “simple” registration subject to the provisions of article L. 54-10-3 of the Monetary and Financial Code in force before 1 January 2024 and was not subject to the provisions relating to the “enhanced” registration introduced by the law of 9 March 2023.
During this registration procedure, the Autorité des marchés financiers (Financial Markets Authority) verified:
- The integrity and competence of the managers and beneficial owners,
- The ability of the Service Provider to comply with its obligations in terms of the fight against money laundering and terrorist financing, the freezing of assets and the prohibition on making assets available, by putting in place an organisation and procedures.