Cryptocurrency exchange Luno has been given digital asset service provider (DASP) registration in France by the Autorité des Marchés Financiers (AMF).
Luno's parent company, Digital Currency Group, is also the parent of CoinDesk.
DASP registration allows Luno to custody digital assets, facilitate their purchase, sale and exchange, and operate a trading platform for them.
"Prior to registration, we could only offer our services to French customers on a reverse solicitation basis," Luno's global head of public policy, Thomas Tudehope, told CoinDesk. "This means that prospective customers had to approach Luno through their own initiative. The registration now enables us to offer our products and services directly to French customers resident in France.”
Luno follows in the footsteps of the world's largest crypto exchange by volume, Binance, which received DASP registration from the AMF in May.
Additionally, Luno plans to move toward being licensed by the AMF, which no DASP has yet attained.
While registration allows a firm to provide services to French consumers, licensing provides benefits such as engaging in direct marketing.
Luno has around nine million customers worldwide, a large swath of whom are in Africa. Along with London, it also has offices in Singapore, Cape Town, Johannesburg, Lagos and Sydney.
Founded in 2013, Luno was acquired by Digital Currency Group in 2020.
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