The SwissBorg platform has just been approved by the Autorité des Marchés Financiers (AMF) as a Digital Asset Services Provider (PSAN).
The SwissBorg platform has just been approved by the Autorité des Marchés Financiers (AMF) as a Digital Asset Services Provider (PSAN). Aiming to become the largest provider of digital asset management services in Europe, SwissBorg has always insisted on its desire to be fully compliant with the laws in the markets in which it operates.
What is a digital asset service provider?
Only Digital Asset Service Providers (PSANs) are authorized to offer services related to crypto assets in France, including services to hold digital assets on behalf of a client, buy or sell digital assets for legal proposals, and exchange digital goods. for other digital goods.
Registration with the AMF means that the Autorité des Marchés Financiers and the Autorité de Contrôle Prudentiel et de Resolution (ACPR), the French banking and insurance supervisory authority, have carefully reviewed SwissBorg’s affairs, services and processes, including money laundering procedures, and authorized SwissBorg offer these services to residents of France.
These measures make it possible to offer a secure solution that fully complies with the legal framework established by the French authorities in order to operate legally and protect users from the risks associated with financial flows.
What are the benefits of this authorization?
SwissBorg has always touted regulation, licensing and security, things that every financial company must respect, be it traditional or digital financial services. As the SwissBorg roadmap expanded in France, obtaining this permission was essential.
Residents of France can be sure that SwissBorg thus complies with all AMF and ACPR requirements for digital asset service providers, in particular SwissBorg good reputation and leadership skills, secure infrastructure, Know Your Customer (KYC) compliant system, and its policies and procedures to combat money laundering and the financing of terrorism.
In addition, SwissBorg now has permission to advertise the SwissBorg app directly to French residents through local marketing campaigns.
All this will undoubtedly contribute to the adoption of the SwissBorg and CHSB application in France.