French Crypto Broker Aplo Received Approval from Luxembourg’s Financial Regulator to Offer Banking Services

French crypto prime broker Aplo has received approval from Luxembourg’s financial regulator to offer banking services.

The Atomico-backed company currently offers hedge funds, venture capital firms and banks services such as trading, custody and sub-ledger services with a license from the French regulator. But through its new license, granted by the Commission de Surveillance du Secteur Financier, Luxembourg's regulator, Aplo said it is able to offer banking services and passport its regulatory status across the European bloc.

With partner neobank Olkypay providing the underlying banking infrastructure, the Agent Payment Service Provider license grants Aplo the ability to issue dedicated business international bank account numbers (IBANs) to load fiat currency and crypto for payments, operations and trading, Aplo said.