👉 L'actu. The Franco-German institution could invest €8 million in France's largest crypto platform.
👉 Why it matters. Oddo BHF would be the first French bank to position itself clearly in cryptos.
👉 The context. Banks are increasingly being asked by their customers to access cryptos.
It's a deal that could make a lot of noise. According to our information, Franco-German private bank Oddo BHF is negotiating its entry into the capital of French cryptocurrency platform Coinhouse.€8 million .
a valuation in excess of €150 million. This new money would enable Coinhouse to continue developing its brand outside France in order to establish itself as the first "European crypto-bank", as Nicolas Louvet has been fond of reminding us over the past few months.
Growing customer demand Oddo is not the first French bank to take an interest in cryptos. Some institutions have been experimenting for several years, such as Société Générale and its Forge subsidiary or Delubac & Cie, which has just obtained its registration as a digital asset service provider (DASP), but no French bank has so far made a direct investment. Even in Europe, this type of operation is unheard of for a bank. At least officially.
READ ALSO >> Emmanuel Macron "Innovation and risk-taking echo the deep history of our country" its wealthy clients who want to get a foothold in the crypto market , which has exploded since the start of the Covid crisis. It has grown from $200 billion to almost $2,000 billion in two years.Hence the tie-up with Coinhouse, which would handle the "plumbing" and custody of cryptos.
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.
