BUX, a European mobile brokerage company headquartered in the Netherlands, has gotten its Digital Asset Service Provider (DASP) registration from the Autorité des Marchés Financiers (AMF).
With the development, BUX announced on Tuesday, it will offer users in France the ability to trade cryptocurrencies on BUX Zero, its commission-free trading platform, from early 2023. The exchange, however, noted that the service will be first launched in its markets in Netherlands, Belgium, Spain, Italy and Ireland.
“BUX is about to launch its crypto offer in France. French users of BUX Zero will be able to buy and sell more than 58 crypto-assets in addition to the shares and ETFs already offered, with the opportunity to build a diversified portfolio,” BUX explained.
BUX introduced the crypto trading feature to its BUX Zero platform at the start of the year to give investors access to more than 20 cryptocurrency markets that include Bitcoin, Ethereum and Litecoin. However, the firm has been offering crypto trading access under the BUX Crypto brand since April 2020.
The firm only recently launched BUX Zero in Italy after establishing its presence in seven other European markets following the first launch of the commission-free trading platform in the Netherlands in 2019.
BUX’s ‘Development Strategy in France’
Speaking on the registration just granted by the French stock market regulator, Jean-Philippe Fabre, Head France & Risk Officer at BUX, attributed the gain to the firm’s in-depth work over the course of several months.
“This is a major step for BUX in our development strategy in France. We are convinced of the potential of cryptoassets in a diversified portfolio and are delighted to be able to offer our French users the opportunity to invest directly in digital assets,” Fabre explained.
Meanwhile, BUX recently deepened its Spanish presence with its acquisition of the retail brokerage arm of Spanish neobroker Ninety Nine.
“Thanks to this acquisition, Ninety Nine users will have access to a wide range of services provided by BUX, such as investing in Spanish, European, and US stocks, ETFs, cryptocurrencies, fractional investing, and the BUX Savings Plan,” BUX’s CEO, Yorick Naeff, said.