Trakx launches digital asset trading platform in France

Rick Steves

Crypto Traded Indices (CTIs) enhance portfolio diversification and reduce the complexity and fees associated with the setting and reach of positions on many digital and cryptocurrency assets. has been granted a Digital Asset Service Provider (DASP) license in France as it launches its platform for institutional clients and qualified retail investors.

Since January 2021 that France’s financial watchdog, Autorité des Marchés Financiers, requires any company offering digital assets services to hold the respective license.

Trakx now holds four licenses in France in order to operate a trading platform for crypto traded indices, to offer custody services to its clients, exchanging digital assets to traditional and digital currencies.

Lionel Rebibo, CEO and founder of Trakx, said: “Although digital assets are a relatively new asset class, the industry is moving toward passive portfolio management products. The French VASP registrations granted by the AMF represent a significant step forward in our effort to deliver a compliant solution where investors can trade digital assets with confidence and trust.

“We strongly believe this recognition is the first of many, as we are looking forward to be fully compliant in all the jurisdictions we will penetrate”.

Trakx offers crypto investment strategies for institutional investors and professional traders. This is achieved by providing digital asset index products on a platform with the compliance, custody and liquidity required by these investors.

Digital asset index products are tradable via website, WebSocket and REST API, with matching engine, access to high liquidity, and security.

Trakx aims to exceed the market standards by assembling a sophisticated platform to exchange a diverse selection of Crypto Traded Indices (CTIs) as digital assets provide alternative solutions to portfolio investing.

CTIs enhance portfolio diversification and also significantly reduce the complexity and fees associated with the setting and reach of positions on many digital and cryptocurrency assets.

The digital asset trading platform ensures the highest level of compliance, secured custody, and deep liquidity as required by the largest investors.

The DASP license is mandatory for four services in France: digital asset custody; buying or selling digital assets in a currency that is legal tender; exchanging digital assets for other digital assets; and operating as a trading platform for digital assets.

For the first two services listed above, the AMF, in conjunction with the Autorité de Contrôle Prudentiel et de Résolution (ACPR), checks that firms comply with the regulations on Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT).

In all cases, the AMF checks the good repute and competence of the managers and beneficial owners of your organisation and seeks clearance from the ACPR.

DASPs must fulfill all obligations regarding anti-money laundering, combating the financing of terrorism, and asset freezing (AML/CFT). This obligation applies to DASPs established in France but also outside France.

Read this next

Digital Assets

Russian Duma’s working group to address gaps in crypto regulation

A working group formed by the Russian State Duma to tackle the issues of cryptocurrency regulations is set to hold its first meetings, said the head of the parliamentary Financial Market Committee, Anatoly Aksakov.

Digital Assets

Kevin O’Leary says XRP lawsuit is “a very bad idea”

“I have zero interest in investing in litigation against the SEC, that is a very bad idea”.

Industry News

SFC freezes 17 client accounts on suspected ‘pump-and-dump’ scam

Hong Kong’s financial watchdog, the Securities and Futures Commission (SFC), has issued notices to two local brokers, instructing them to freeze certain client accounts suspected of market manipulation.

Retail FX

FSCS starts to offer LCF investors compensation under government scheme

The Financial Services Compensation Scheme (FSCS) has gone live with the government’s redress scheme to reimburse eligible London Capital & Finance victims.

Industry News

Aquis Exchange appoints Glenn Collinson as new Chair

Aquis Exchange, a group of companies that provide services for exchanges, has announced the appointment of Glenn Collinson as its new Chair and he would succeed Niki Beattie effective from January 1, 2022.

Digital Assets

Bitpanda onboards Lydia’s 5.5 million users to white label solution

Lydia has deployed the white label solution, with transactions made by the more than 5 million Lydia customers in a wide range of assets, from crypto to fractional stocks, being executed via Bitpanda for as little as EUR 1.

Digital Assets

Archax deploys Scila AB’s AML and surveillance tech for crypto trading

Scila is very much in tune with digital assets and cryptocurrencies and has some of the largest cryptocurrency exchanges and traders in its client roster.

Institutional FX, Retail FX

ATFX goes all in on US equities: FX broker adds 113 US stock CFDs

With the addition of 113 US stock CFDs, ATFX boasts more than  300 tradable instruments, 273 of which are stock CFD products.

Industry News

Citadel CEO outbids 17,000 crypto investors after winning Short Squeeze Lawsuit

Citadel Securities has been a key source of trading platforms’ revenue, which fed conspiracy theories that the US market maker leaned on their executives to end the short squeeze by restricting users from buying meme stocks.