French company Crypto Blockchain Industries will be listed on the Paris Euronext Growth stock market.
The listing on the European multilateral trading facility highlights the burgeoning appeal of cryptocurrencies around the world. The company plans to list its shares at a price of €2, which would give it a market capitalization of around €38.7 million ($45 million).
Crypto developments in France
Although not typically in the headlines with regard to cryptocurrencies, France is making developments on several fronts.
In August, French fund management company Melanion Capital received approval from the EU for the creation of a Bitcoin stock ETF. According to the company, the Bitcoin stock ETF looks at the risk of loss and piracy of tokens. To make the venture possible, Melanion Capital intends to invest in a number of stocks correlating around 90% with the price of Bitcoin.
Melanion emphasized the ETF as an overall safer option than investing in Bitcoin. This is particularly the case for the fund manager as its ETF assesses risk and piracy, according to Cyril Sabbagh, head of ETF at Melanion Capital. These are often two of the major concerns from institutional investors as they consider buying into Bitcoin. After approval from the SEC, the first Bitcoin-based ETF debuted on US markets last week.
Meanwhile, on a separate financial front, the central bank of France partnered with the monetary authority in Singapore in July to explore the cross-border applications of central bank digital currencies (CBDCs).
The Bank of France and the Monetary Authority of Singapore (MAS) successfully completed a cross-border payment and settlement experiment using a CBDC. The experimental transactions involved a number of different CBDCs linked on a common network between the two nations.
Testing was run with help from JPMorgan’s digital currency division, Onyx, and tried to simulate cross-border transactions as they would occur in the real world. Onyx previously participated in a similar cross-border CBDC test for the Central Bank of Bahrain earlier in 2021.
The test was the latest phase of Banque de France’s wholesale CBDC program. According to the Bank, the project is the “first m-CBDC experiment that applied automated market-making and liquidity management capabilities to reap cross-border payment and settlement efficiencies.” The project is planned to conclude in the latter part of 2021.
What do you think about this subject? Write to us and tell us!
The post Crypto Blockchain Industries Listing on Paris Stock Exchange appeared first on BeInCrypto.
- Mobile app
- Telegram Channel
- Telegram Group
- Binance Referral Link
- Bitmex Referral Link
- (Recommended For Leverage) ByBit Referral Link
- Buy Ledger Nano at discounted price
- Buy Cool Wallets at discounted price
Don't forget to share your review/suggestions for the android app.
All In One Crypto App is an execution-only service provider. The material provided on this website is for information purposes only and should not be understood as investment advice. Any opinion that may be provided on this page does not constitute a recommendation by All In One Crypto App or its agents. We do not make any representations or warranty on the accuracy or completeness of the information that is provided on this page. If you rely on the information on this page then you do so entirely on your own risks