Crypto trading platform Luno said on Tuesday that it had been given a digital asset service provider (DASP) license by French regulators.
The move means Luno can now offer its services directly to customers in France. The company said it is now moving towards obtaining the optional license from the Autorité des Marchés Financiers (AMF) — the country's stock market regulator — which has to date not been awarded to any DASP.
"We believe that regulation is vital in crypto's path to mass adoption and our DASP registration represents a key step towards achieving our strategic growth plans,” said Luno CEO and co-founder Marcus Swanepoel.
Luno is part of the Digital Currency Group, which has more than $40 billion in crypto under management and is the world’s largest blockchain investor.
In May, France also granted Binance a DASP license, after the exchange giant announced a €100 million ($102 million) investment in the country and a partnership with Paris-based startup incubator Station F.
