Each year, the Consumer Electronics Show (CES) in Las Vegas captures the world’s attention with the latest technological advancements. The 2024 edition, with its 135,000 attendees and 1,400 startups represented across 4,300 booths, covering an area of 2.5 million square feet (equivalent to over 36 football fields!), has once again proven its status as an essential hub for innovation.

At Delubac & Cie, our participation in this prestigious event reflects our commitment to the world of Web3 and crypto-assets, but above all, it demonstrates our desire to innovate in the banking sector to support businesses in the field!

This event provided an opportunity to showcase the bank and its vision for the sector in a world undergoing rapid technological evolution, but also to closely scrutinize the developments at CES 2024 to identify trends that will shape the future of our industry and our financial services.

Widening the Industrial Spectrum

A notable trend at CES 2024 was the entrance of new industries that have traditionally been absent or underrepresented at the show. At the same time, there was a striking absence of cybersecurity players, despite the event being at the heart of their concerns.

Iconic brands such as L’Oréal and Essilor made their first appearance at CES, highlighting the growing importance of technology in sectors as diverse as beauty and optics. Similarly, the presence of Delubac & Cie in the Web3 village illustrates the banking sector’s shift towards innovative digital solutions and a decentralized financial system. More broadly, and noteworthy at a show named the Consumer Electronics Show, is the massive arrival of B2B2C exhibitors, changing the game! People no longer come to Las Vegas just to find the latest gadget, but rather meaningful and mature innovation ready for market entry. So, when will it rebrand as the Consumer Innovation Show?

Towards an “Enhanced Human”

The 2024 edition of CES highlighted a major shift towards enhancing human capabilities through technological advances such as exoskeletons, augmented reality, and virtual reality. A company that caught our team’s attention on-site was Ultraleap, which offers total immersion experiences through advanced haptic devices, allowing users to feel and manipulate virtual objects with astonishing precision. A development for which we see a definite future in the sector, among others, of e-commerce and retail more generally!

Concerns About Generative AI

A major and unavoidable trend observed at CES 2024 was the rise of generative artificial intelligence (AI). While many exhibitors highlighted the integration of these AIs in their products and services, these technologies raise increasing concerns about their misuse to create deceptive content. To counter this, we met companies like Click app, which offers a solution for certifying digital media to combat fake news and deepfakes. Their technology promises to play a crucial role in maintaining the integrity of information in an ever-evolving digital world. Compliance being inherently in a bank’s DNA, it seems crucial for us to closely follow these new techniques for securing information and data.

Tech at the Heart of Health

A sector dear to Delubac & Cie, which regularly supports innovative health companies! CES 2024 revealed significant advancements in the health field, showcasing diverse and promising solutions. Startups such as Skezi and Linxens presented data collection and patient monitoring technologies, with remote monitoring skin patches and connected armbands. Ivès introduced a sign language communication platform, while Bodit Inc developed animal health monitoring devices. Companies like FRENZ Brainband and NuraLogix highlighted brain function enhancement devices and health monitoring devices, respectively. Other innovations included LED massage technologies, real-time physiological monitoring devices, smart rings for health management, and connected glasses for the visually impaired. These advancements reflect a continued commitment to improving human or animal health.

Sustainability and Green Innovation

In a world where sustainability is increasingly central, Tech For Good shone with its green innovations and commitments to sustainable development. CES was the stage for the introduction of cutting-edge technologies aimed at reducing our carbon footprint and promoting a more environmentally friendly future. From energy-efficient devices to renewable energy solutions, exhibitors unveiled innovative ideas across an increasing number of sectors. Among the most notable, we observed smart home systems designed to optimize energy consumption, electric vehicles with long-lasting batteries, and revolutionary advancements in recycling.

For example, Jackery captured our attention with the introduction of a robot capable of capturing solar energy to power a home. Many other companies also presented innovative solutions for generating electricity from alternative sources such as noise or waste. We were also impressed by Qarnot Computing, a startup presenting a computer network infrastructure based on the reuse of waste heat, thus offering a sustainable solution to reduce the carbon footprint of data centers.

These advancements demonstrate a collective commitment to a cleaner and more sustainable future. As a representative of Delubac & Cie, we are excited by these developments that offer unique investment opportunities in environmentally friendly technologies.

The Emerging Metaverse

Finally, the concept of the Metaverse was widely discussed and explored at CES 2024. As a sponsor of the space dedicated to Web3, Crypto, and Metaverse technologies, Delubac & Cie could not overlook this trend! Although its adoption is still in its early stages, we were able to observe the progress made in the convergence of the technological infrastructures necessary for its realization. Companies such as Meta (formerly Facebook) presented their visions of the metaverse during conferences and its implications for the future of human interaction and collaboration. At Delubac & Cie, we are on the lookout for the potential of the metaverse, which could transform our interactions with our clients and partners, but even more so on how we could support Web3 companies with banking offers tailored to their sector and specific needs in decentralized finance.

In conclusion, CES 2024 once again demonstrated that innovation is at the heart of our industry. At Delubac & Cie, we remain committed to staying at the forefront of these developments to offer our clients innovative financial solutions tailored to a constantly evolving world. We look forward to CES 2025 to discover the next trends that will shape our future, but before that, see you at Vivatech from May 22 to 25, 2024!

Watch a video of Joël-Alexis Bialkiewicz, managing partner at Banque Delubac & Cie, speaking at an event organized by ADAN (Association for the Development of Digital Assets) and KPMG at Bercy. The association presents its study “Web 3 and Crypto in France and Europe: Public Adoption and Applications in Industries”.

Addressing the Banking Needs of Web 3 and Crypto Businesses

Our managing partner, Joël-Alexis Bialkiewicz, who has been mining Bitcoin since 2011 and is also the founding president of the mobile payment fintech DeluPay, discusses the state of the French crypto ecosystem and its perception. Regulation, taxation, diplomacy…: he reviews the actions needed for France to become the global financial hub for decentralized finance. These issues, thus addressed, will contribute to changing the current perception towards a relationship of trust necessary for the full adoption of crypto assets in France.

The need for reassurance through crypto regulation

45 %¹ of French people believe that France imposes too many regulatory constraints on the cryptocurrency industry (crypto-assets or digital assets) or that France is still not incentivizing enough to develop the cryptocurrency industry.

“However, the risk of overly stringent regulation is that it could deprive French companies of a new mode of financing, stifle innovation, and drive quality projects away from French territory,” says Joël-Alexis Bialkiewicz.

Enhanced DASP registration

The status of Digital Asset Service Provider (DASP) is a regulatory status introduced by the French PACTE law (Action Plan for Business Growth and Transformation) for providers of services related to digital assets. It aims to regulate the market by authorizing and supervising the activities of service providers in the field of crypto-assets:

• buying
• selling
• safekeeping of digital assets on behalf of their clients.

As of July 1, 2023, the DDADUE law (Provisions for Adaptation to the Law of the European Union) strengthens the obligations of future PSANs who have not filed a complete registration request with the AMF. New companies must comply with new rules and requirements regarding the safekeeping and cybersecurity.

European MiCA regulation and CASP approval

The European regulation on Markets in Crypto-Assets (MiCA) establishes a harmonized regulatory framework at the European level for crypto-assets, including digital asset service providers since its adoption in April 2023. It can be seen as an extension or evolution of PSAN, as it aims to strengthen regulation and supervision of actors operating in the crypto-asset domain. Registered PSANs will indeed have to become CASP (Crypto Assets Service Providers) by 2026 to address the European market.

Regulation has primarily focused on combating money laundering and terrorist financing. Yet, illicit activities represent only 0.15 to 0.24% of cryptocurrency transactions, a proportion significantly lower than that of FIAT currencies.

Protecting users is another aspect of necessary regulation if we want to facilitate access to these digital assets. Indeed, an appropriate regulatory framework must accompany these technological evolutions for mass adoption.

Did you know? Banque Delubac & Cie is the first French bank to obtain its PSAN registration (Digital Asset Service Provider).

The Need for a Convergence Between Crypto and Traditional Finance

Various scandals and crypto scams have undoubtedly tarnished the image of the Blockchain revolution and provoked distrust:

• bankruptcy of marketplaces (MtGox, FTX),
• hacks on decentralized bridges (Harmony, Nomad, Wormhole, Ronin),
• ICOs that are difficult to audit and for which the AMF’s approval remains optional,
• market manipulation facilitated by the low liquidity of most tokens.

Nonetheless, the evolution of the markets has not affected the adoption of cryptocurrencies (crypto-assets or digital assets) by the French, which showed a growth of 20% in 2023.1 In parallel, the convergence between traditional finance and the digital asset industry is progressing with trading volumes in digital assets predominantly institutional.

70% of crypto companies report having had difficulties in accessing banking services, such as simply opening a bank account.²

Did you know? Delubac Corporate Banking supports players in the crypto-assets and web 3 ecosystem in the corporate part of their activities.

Read: Banking and Crypto: A Compatibility Rich in Opportunities

Taxation of crypto assets

Work is needed with public authorities to facilitate the declaration of crypto assets in tax returns. Currently, it is up to each individual to perform this complex calculation and declare it, unlike traditional financial assets which are declared by intermediaries.

The diplomatic aspect of crypto

Welcoming foreign players makes France a global platform in the field of crypto. To fully seize the opportunities of this constantly evolving sector, French players also need support to spread beyond our borders.

“France is ahead and capable of becoming the global financial hub for decentralized finance and making its mark worldwide. There are still some steps to overcome. It’s up to all of us to make this possible!” Joël-Alexis Bialkiewicz

Source : 1 & 2. ADAN & KPMG Study, 2023, Web3 and crypto in France and Europe: adoption by the general public and applications in industries.

Elodie Trevillot, Deputy General Manager of Risk and Controls at Banque Delubac & Cie, raises the question of the compatibility between banks and crypto. Opportunities, challenges, and the deconstruction of prejudices related to digital assets are at the heart of this presentation, which was also featured during the France Générosités webinar “Cryptocurrencies validated by our trusted third parties” in October 2023.

The Benefits of Blockchain for Banking

Blockchain offers several advantages such as speed, transparency, increased security, and simplification of compliance processes. Specifically, the interest of banks in offering services related to digital assets and blockchain now seems indispensable to meet user needs.

Cross-border Payments

Blockchain technology offers many advantages for cross-border payments: fast and economical. Indeed, payments are instantaneous even when geographical borders are involved. Moreover, the costs associated with transfers can be significantly reduced by avoiding currency conversion fees and high costs of international transfers.

Credit Management

Blockchain is a source of opportunities for the syndicated loan market, from mandate management to servicing and tokenization. The elimination of intermediaries and the immediacy of transactions allow a reduction of the granting process from several days to a few hours. For example, JP Morgan’s ONYX platform and BBVA’s syndicated loan platform for businesses. Companies can benefit from a faster and more efficient credit process, allowing them to obtain funding more quickly for their financing needs.

Management of Financial Instruments

The tokenization of assets is a real challenge for economies of scale. Indeed, representing physical or financial assets as digital tokens on a blockchain allows:

• reduction of delays thanks to the instantaneity of the blockchain, thus eliminating the processing delays often encountered by traditional systems,
• elimination of intermediaries, thus reducing associated delays and costs,
• cost reduction through the automation of processes, reduced delays, and intermediaries.

Growing Interest of the French in Crypto

Digital assets are increasingly present in the minds of the French. In 2023, no less than 85% of the French had already heard of these new forms of investment. This growing popularity is confirmed with 26% of the French declaring their intention to acquire digital assets in the future. Moreover, it is interesting to note that 13% of French people over 18 years old have already owned digital assets, such as NFTs or stablecoins. Digital assets are truly emerging as a new asset class that is attracting the interest of the French.

Nearly 30% of people would be ready to switch banks for an institution offering services in digital assets.

Faced with this enthusiasm, banks must understand the importance of adapting to these new uses and seizing the many opportunities offered by this technological innovation. This data highlights the importance for banks to rethink their offerings and provide tailored banking and financial solutions to meet the expectations of their clients and remain competitive in the constantly evolving financial market.

Adaptation of Banks to Digital Assets

To meet the new uses and needs of clients, banks must adapt by evolving:

• Regulatory framework: to offer services related to digital assets in France, banks must obtain a registration or approval as a Digital Asset Service Provider (PSAN),
• Internal mechanisms: towards new tools, training of employees, awareness of new challenges, etc., to meet the specificities of digital assets,
• Risk policy: to integrate the specificities of digital assets (volatility of cryptocurrencies, decentralization of blockchains, cybersecurity, regulatory compliance).

Banque Delubac & Cie supports players in the crypto-assets and web 3 ecosystems to seize the opportunities of this new asset class.

Opportunities for Banking Services Related to Crypto

The growing popularity of cryptocurrencies in France and the possibilities offered by blockchain technology open real opportunities to offer services tailored to client needs.

Management of the Conservation of Digital Assets

Many individuals wish to rely on a trusted third party to ensure the secure conservation of their digital assets. Banks, for their part, have solid technological infrastructures that could meet these needs, particularly in terms of cybersecurity. With their experience in protecting traditional financial assets, banks are well-positioned to offer these services. Their expertise in risk management, regulatory compliance, and data protection can be extended to digital assets. Banks can thus play an essential role in offering reliable and secure digital asset conservation solutions, meeting individuals’ expectations for trust and protection of their investments.

Management of Crypto Asset Purchases and Sales

Banks already have mechanisms to meet client needs in digital assets, particularly through their experience in managing transactions related to financial securities. The key principle in this area, “best execution,” aims to ensure that transactions are carried out in the most advantageous way for clients, considering criteria such as price, speed, and security of execution. This principle is naturally applicable to this new asset class.

Crypto Investment Advisory

Banks already offer value-added services such as investment advice, wealth engineering, etc. In the evolving market and technologies, many clients express the need for advice on investing in digital assets, as part of diversifying their exposure. Indeed

, cryptocurrencies, tokens, and NFTs are gaining popularity as a full-fledged asset class. Naturally, clients are looking to take advantage of this new investment opportunity while needing expertise in this complex environment.

Deconstructing Prejudices Related to Crypto Assets

Mistrust towards crypto-assets largely stems from past scandals and a lack of understanding of this innovative technology, often perceived as complex.

The majority of crypto assets are used legally

The increasing use of crypto-assets for illicit purposes remains below 1% since 2019.

Regulation has aligned the anti-money laundering obligations of digital asset service providers with those of banks:

• obligations to know the customer
• constant monitoring of operations to identify those with an unusual or illicit character
• direct link with the authorities via an obligation to report to TRACFIN (Treatment of Intelligence and Action against Clandestine Financial Circuits)

At the European level, requirements will be standardized with the implementation of the MiCA Directive (Markets in Crypto-Assets). At the international level, regulation governing digital assets tends to become stricter.

Blockchain does not promote anonymity

The blockchain is public. Indeed, it is a distributed ledger system, transparent and accessible to all, where transactions are recorded immutably and verifiable by all network participants. Pseudonymity is common on the blockchain, not to be confused with anonymity. Authorities can even trace transactions back to individuals holding public addresses as in the Silk Road or Bitfinex cases. Thus, authorities have begun to identify IP addresses that are linked to money laundering or sanctions circumvention circuits (USA, UK, OFAC).

Crypto assets are not the preferred tool of money launderers

The main AML-CTF risks come from the use of specific tools or decentralized platforms:

• Mixers: they break the link between the origin address of the transaction and the destination address to ensure the anonymity of certain transactions;
• Decentralized platforms: they do not meet the requirements of regulated platforms and do not always apply rules reducing the risk of money laundering;
• Anonymous assets: digital assets such as Monero or Zcash emphasize the anonymity of transactions. Unlike traditional cryptocurrencies like Bitcoin, they are not recorded on a public blockchain, and the senders, recipients, and transferred amounts are masked.

Blockchain-specific AML-CTF tools

Blockchain analysis tools complement existing customer knowledge and business relationship monitoring tools. The most commonly used blockchain analysis tools, such as Chainalysis, Coinfirm, Scorechain, or TRM, now have more than 5 years of seniority and are capable of:

• multifactorial analysis: entity (the Exchanges), addresses, and transactions.
• integration of risk management rules specific to each user (for example, country risk, high-risk sectors)
• extending the analysis on certain blockchains up to 1000 hops
• identifying risks (for example, identifying mixers)

The features and use of these tools are subject to analysis by authorities in the context of PSAN registration and approval requests.

Sources:

1. ADAN KPMG Study, 2023, Web 3 and Crypto in France and Europe: adoption by the general public and applications in industries.
2. Chainalysis 2023 Report

The fourth edition of this unmissable event dedicated to Bitcoin in France is taking place in Biarritz from 23 to 25 August 2023. Banque Delubac & Cie is once again proud to be a partner of this prestigious event. Our Managing Director of Delubac Corporate Banking for Companies, Professionals and Associations will take the floor on Thursday 24 August 2023. Three days of conferences, workshops, round tables in a convivial atmosphere and a magnificent setting. Surfin‘Bitcoin 2023 is organised by StackinSat, at Casino Barrière Biarritz, facing the ocean: the ideal place for professionals from the bitcoin ecosystem to encounter fellow enthusiasts.

THE TROUBLED REAL ESTATE MARKET

Banque Delubac & Cie was a partner of the third edition of SurfinBitcoin at the Casino Barrière in Biarritz from August 25 to 27.

This event, the largest Bitcoin conference in Europe, was an opportunity for our teams to exchange with the Crypto and Bitcoin community.

Elodie Trevillot, Head of Regulatory, Compliance and Permanent Control department, was a guest speaker at the conference “Demystification: Bitcoin, Money Laundering and Regulation (MiCa)” and took part in the discussions on the evolution of customer knowledge and the transparency aspects of the blockchain.

Romain Lanusse-Croussé, Regional Director, led the workshop on “banking solutions for players in the crypto ecosystem”.

Banque Delubac & Cie has obtained its registration as a DASP (Digital Assets Service Provider) with the AMF (Financial Markets Authority) and the ACPR (French Prudential Supervision and Resolution Authority).

Banque Delubac & Cie, the first French bank authorised to offer a crypto-asset service.

Banque Delubac & Cie has obtained its registration as a DASP (Digital Assets Service Provider) with the AMF (Financial Markets Authority) and the ACPR (French Prudential Supervision and Resolution Authority). It is about to officially launch its offer for the purchase, sale and custody of crypto-assets for institutions, businesses and individuals.

Banque Delubac & Cie therefore becomes the first French bank to offer this type of service.

The offer will be aimed primarily at companies wishing to invest part of their cash in crypto-assets, at institutions wishing to offer a secure digital asset custody service for their clients and finally, at individuals wishing to buy, sell and hold crypto-assets. The service offered by the Delubac & Cie bank will make it possible to invest in crypto-assets with the highest possible level of security.

Each client portfolio will correspond to a separate private key; under no circumstances will client assets be pooled.

Initially, the first three digital assets offered will be Bitcoin, Ethereum and Tezos. This offer will make it possible to invest in digitised or tokenised real assets as well as NFTs (Non-Fungible Token) and to have access to staking. Other digital assets will be made available to clients based on demand.

Banque Delubac & Cie is the first French bank registered as a Digital Asset Service Provider¹.

¹ Banque Delubac & Cie’s offer relating to digital assets is governed by its registration with the AMF under number E2022-33. This offer does not fall within the services covered by the bank’s authorisation as an investment services provider.

>> Read the press release of 06/04/2022

Listening to our customers and doing everything we can to serve them is how we see our business.

Because our clients have asked us to get closer to them, we have opened new regional representative offices.

Our experts are now present in all regions of France. The activities present in the regions are essentially those of Restructuring Banking, the Corporate Banking and Delubac Factor. These offices already exist in Paris, Lyon, Toulouse, Valence and Le Cheylard.

>> Consult the press release of 02/02/2022

La Banque Delubac & Cie accompagne les TPE et PME dans leurs besoins en affacturage.

Le nouveau département Delubac Factor propose ainsi aux chefs d’entreprises une solution globale, à leurs enjeux et leur développement.

Parce que proximité rime avec réactivité et confiance, retrouvez Delubac Factor sur nos sites de Bordeaux, La Réunion, Lille, Marseille, Nantes, Paris, Strasbourg et Valence. 

>> Retrouver toutes les informations sur les nouveaux bureaux

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The balance sheet of the ECB: https://twitter.com/Schuldensuehner/status/1463155482659540996

 “Technically, the bans on renting ‘energy strainers’ could remove 3 million housing units from the rental stock, including 700,000 in 2025 alone!”, according to Jean-Marc Torrollion, President of the FNAIM

https://www.capital.fr/immobilier/immobilier-la-hausse-des-prix-nest-pas-tenable-selon-le-president-de-la-fnaim-1421663

 From 1 January 2022, landlords and occupants of surfaces of more than 1,000 m² will be forced to reduce their energy consumption on the basis of those of 2010 by -40 % by 2030 (i.e. in just 8 years), -50 % by 2040 and -60% by 2019

During a SIM swap or SIM card exchange, an ill-intentioned person could recover the SMS code sent by the Delubac bank to validate your banking transactions without you knowing.

How do hackers do it? Having previously collected certain personal information about you, such as your first name, last name and address, they will pretend to be you when contacting your telecom operator and tell them that your SIM card has been stolen or lost.

They can then receive single-use codes and steal your identity.

To combat this, if you observe an unusual prolonged loss of network:

• Contact your telecom operator immediately;
  
• Immediately change your online access password;
  
• Contact your manager immediately