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.

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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.

Grégory Raymond

Gregory Raymond is a French journalist specializing in economics and cryptocurrencies, currently head of research at The Big Whale.

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