EXCLUSIVE. Delubac bank to allow customers to invest in crypto

Thursday, December 7, 2023

Bank Delubac is about to make its crypto offering available to enable its customers to invest in cash.

That's what we call having a sense of timing. As the markets have rallied in recent weeks - with bitcoin having topped $40,000 - the bank Delubac is preparing to launch a crypto investment offer. According to our information, this offer should be available in the coming months, i.e. during 2024.

Also according to our information, the bank, which would be the first in France to launch such a service, will make it possible to invest in three digital assets: bitcoin, ether and tez, which is the cryptocurrency of the Tezos blockchain. These three cryptos will be directly available in Delubac's app. Swiss start-up Taurus is one of the major providers.

Eventually, Delubac aims to offer investment in around forty cryptos.

"Today, many investors are reluctant to go into cryptos because of the lack of traditional players. This is one of the obstacles to democratisation. We are targeting customers who are not reassured by the idea of going through a crypto exchange platform," explains Jean-Baptiste Sicard, Head of Crypto at Delubac, which has had its registration as a digital asset service provider (DASP) with the Autorité des marchés financiers (AMF) since March 2022.

The launch of this first offering could influence many other banks. In France, some major groups are still hesitating to position themselves in retail - i.e. individual customers - for reasons relating to both regulation and the image of cryptocurrencies. But for how much longer?

This analysis is not investment advice. It has been prepared without taking into account your personal situation, particularly your financial situation, risk profile, and investment objectives.

Before investing in any product, investors should fully understand the risks involved and consult their own legal, tax, financial, and accounting advisors.

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