France Approves Financial Blockchain Trading

France Approves Financial Blockchain Trading

France has now approved the use of blockchain technology for trading unlisted securities.

According to Reuters, its government has implemented a new set of rules that enables its banks and fintech firms to initiate their own blockchain platforms for trading. This change allows the trading of these unlisted securities without needing a middleman, making the trade almost instant.

Bruno Le Maire, France’s finance minister, states that these rules would be beneficial for Paris as a financial center, adding, “The use of this new technology will allow fintech firms and other financial actors to develop new ways of trading securities that are faster, cheaper, more transparent and safer.”

This move is aimed at the country’s future hopes to make Paris a hub for financial innovation. France’s government launched a blockchain group this May that’s primary focus was to research blockchain implementations into various French sectors.

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Chelsea Roh is a freelance content writer living in Vancouver, BC. Her current focus is cryptocurrency, financial analysis and blockchain technology. You could call her a "blockchain enthusiast." In addition to content writing, she is an experienced Social Media Strategist. Before moving to Canada, she spent 10+ years marketing and working hands-on in the medical practice industry.