Nym successfully establishes itself in France without a bank account (but with a bitcoin wallet)
We explain how the Swiss-based crypto company registered its subsidiary in France.
The Nym project has just achieved a minor revolution. To set up its French branch, the Swiss crypto company responsible for developing a protocol that strengthens the confidentiality of communications (crypto transactions, instant messaging, etc.) has not opened... a bank account!
Instead, it has paid bitcoins on a wallet ; 8 to be exact (180.000 euros at the current rate).
"The law does not require you to have a bank account when you set up a business," explains Alexis Roussel, Operations Director at Nym Technologies. "It is entirely possible to contribute assets in kind instead of euros, which is the case with bitcoin," he insists.