AXA Investment Managers is registered as an encryption service provider in France
It is reported that according to the website of AMF, the financial market regulator, AXA Investment Managers is registered as an encryption service provider in France. The company is a part of AXA Group insurance company. The company said that it has 95 million customers in 50 countries/regions. Together with Binance, Bitstamp and Societe Generale, it has passed the governance and money laundering inspection stipulated by French law. The website shows that the other two companies, Ouro Capital and Optimization Technologies, also registered on the same day. （CoinDesk）
Interpretation of this information:
The message reports that AXA Investment Managers, a part of AXA Group insurance company and having 95 million customers in 50 countries/regions, is now registered as an encryption service provider in France. Along with Binance, Bitstamp, and Societe Generale, AXA has passed the inspection for governance and money laundering regulation as required by the French law. Two other companies, Ouro Capital and Optimization Technologies, have also registered on the same day.
From this news article, it appears that AXA Investment Managers wants to enter the encryption industry in France, which is experiencing rapid growth. This registration as an encryption service provider is likely to offer the company a competitive advantage in terms of accessing and serving a large number of customers. It is also reassuring for investors and stakeholders that the company has passed the regulation checks, indicating it is compliant with the law and is committed to avoiding illicit activities.
The fact that other companies have also registered on the same day as AXA suggests that the encryption sector in France is highly active and expanding. The involvement of major players like Binance, Bitstamp, and Societe Generale indicates that the industry is highly competitive with large corporations looking to capture significant market share.
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