Institutional-focused Bitcoin spot exchange, LGO, has been registered as a Virtual Asset Provider (VASP) in France by the Autorité des Marchés Financiers (AMF), France’s securities regulator.
The VASP registration will allow LGO to offer both digital custody and fiat-to-crypto brokerage, with a focus on institutional investors.
Similar to the FCA’s guidance in the UK, registration to become a VASP will become mandatory for any company offering these services as of January 2021 and LGO is one of just three companies to be registered in France.
Following its launch in April 2019, LGO has served more than 60 institutions across 20 different countries while offering a market microstructure based on order batching in order to guarantee fair price discovery.
France introduced the VASP guidelines in January after the Action Plan for Business Growth and Transformation (PACTE) was passed.
“We are thrilled to be registered as a Virtual Asset Service Provider in France, my native country,” said Hugo Renaudin, CEO and Co-Founder of LGO. “We want to be able to provide our services to as many people in France as possible, and this way, both institutional and retail clients will be able to custody and trade their capital more securely on our spot exchange and with the confidence that it will be regulated properly.”
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