Banque Delubac & Cie, one of the last independent French family banks, becomes the first bank in France to launch crypto service. Initially, the bank will allow its customer to buy, sell, and custody three digital assets – Bitcoin, Ethereum, and Tezos.
What happened? Banque Delubac & Cie becomes the first French bank to obtain the registration of Digital Asset Services Provider (PSAN) in France. This registration will allow the bank to offer a cryptocurrency purchase/sale and custody service for professionals and individuals from the end of April.
Delubac & Cie, first French bank to open up to crypto
Delubac & Cie, a discreet century-old bank which claims its Ardèche origins, has just obtained its registration as a PSAN. A first in France, as it does not fail to point out in its press release, in which it officially announces the imminent launch of a crypto service offer.
Specifically, the French bank will not only offer the buying and selling of crypto-assets, but also a dedicated crypto custody service. A necessity that has often represented a brake for traditional banks due to the cutting-edge technological expertise involved in the custody of digital assets. They also often call on external service providers to provide this service, which must be of “institutional” grade, i.e. highly secure.
Delubac does not dwell on the nature of its custody service, but makes a point of specifying a little funny that “each client wallet will correspond to a separate private key and that in no case the assets will be pooled”.
Details of the offer
The offer is intended for the general public. It will be aimed both at companies wishing to invest part of their cash in crypto-assets and at institutions wishing to offer a secure digital asset custody service for their clients. And individuals will not be forgotten. They will have access to trading and custody support.
Initially, the bank will only support three of them. The two majors, Bitcoin (BTC) and Ethereum (ETH) and one with French roots, Tezos (XTZ). But far from being confined to a single register of activity, its service will tend to diversify and develop.
“The offer will be aimed primarily at companies wishing to invest part of their cash in crypto-assets, at institutions wishing to offer a secure digital asset custody service for their clients and finally, at individuals wishing to buy, sell and hold crypto-assets. The service offered by the Delubac & Cie bank will make it possible to invest in crypto-assets with the highest possible level of security.”
Delubac & Cie
Long skeptical of cryptocurrencies seen as a means of circumventing the traditional financial system, banks are succumbing one after the other to the temptation of Bitcoin and other digital assets.
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