One of the longest-standing cryptocurrency exchanges – Bitstamp – registered with the Financial Markets Authority in France. Thus, it followed other rivals, including Binance and Crypto.com, which already secured the green light from the watchdog.
Bitstamp previously received approval from other European countries, including Italy and Spain.
Entering the French Market
France’s top monetary regulator – the Autorité des marchés financiers (AMF) – added Bitstamp to the list of cryptocurrency platforms allowed to offer products and services to local users. The firm highlighted the move on its Twitter page, saying it is “thrilled” to expand to the nation.
The Luxembourg-based company obtained licenses in other European nations over the past several months. It registered as a virtual asset service provider (VASP) in Italy in July 2022 and was authorized by the Spanish regulators in November.
Other cryptocurrency platforms allowed to operate in France are Binance, Bitpanda, and Crypto.com. Binance’s registration in May last year was its first on the Old Continent. Shortly after, it was greenlighted in many different regions, including Spain, Italy, Sweden, and Poland.
The Partnership With Immortals
Bitstamp joined forces with the American professional esports organization – Immortals – nearly a year ago to serve as its official cryptocurrency exchange and a founding partner. The partners’ main goal is to establish a bridge between the gaming industry and the digital asset sector. Bobby Zagotta – CEO of Bitstamp USA – stated:
“Our partnership with Immortals is an extension of our mission to empower our customers by creating a more authentic experience between crypto and gaming. The esports community is diverse, passionate, and highly-attuned to the digital evolution. It is among the first to explore the integration of digital assets within their industry.”
The three-year collaboration will also explore non-fungible token (NFT) integrations.
“This partnership will further enhance the Immortals fan experience with real, tangible benefits that connect the crypto and gaming worlds,” Jordan Sherman – CEO of Immortals – added.
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Today, Bitstamp, Luxembourg-based leading cryptocurrency exchange, announced that it has secured an operational license in France.
The new operational license in France initiates the start of Bitstamp’s latest effort to expand its services in Europe, setting the stage for the exchange to become one of the leading crypto exchanges in the continent.
This license, granted by the Autorité des Marchés Financiers (AMF), the French financial regulator, authorizes Bitstamp to provide crypto services, including bitcoin and ethereum trading, through its existing infrastructure.
The endeavor provides a unique opportunity for foreign investors to get involved in the European digital assets market, as well as access local assets such as regional euro-denominated stocks and mutual funds.
“This is an exciting time for Bitstamp,” said Nejc Kodrič, CEO of Bitstamp.
He added: “Expanding into the French market is a huge step for us, not just because of the license itself, but also because it is a signal to the wider world of finance that this competition for the European market is about to draw a lot of attention.”
This license is part of the AMF’s strategy to develop and regulate the cryptocurrency sector. This move comes as a result of France’s President Macron’s pledge last year to make blockchain and cryptocurrency a national priority for the French.
Bitstamp has been operating in Europe for over 8 years, allowing users to securely buy and store cryptocurrencies. The exchange is now readying to open services in France, and expects to expand its presence across Europe, providing users with a regulated platform for digital asset trading, storage and management.
Bitstamp plans to use the newly acquired license to expand its platform’s capabilities and introduce more features, including the addition of other cryptocurrencies and a broad range of trading derivatives.
By securing the operational license in France, Bitstamp is one step closer to achieving its goal of becoming a European leader in digital asset trading and storage. This expansion will no doubt help Bitstamp gain a broader foothold in the European markets.
