France PSAN / Enregistrement
Cost
Substantial AMF fees + setup
Timeline
6-12 months
Capital
Reasonable (case-by-case under Enregistrement; higher under Agrément)
Digital Asset Service Provider regulated by Autorité des Marchés Financiers (AMF).
Who it suits
Crypto exchanges, custodians, and trading-platform operators serving French clients. Two regimes: mandatory Enregistrement (registration) and optional Agrément (authorization).
Compliance load
AML/CTF aligned with EU 5MLD/6MLD, robust governance, ACPR oversight for AML.
The acquiring angle
PSAN-licensed operators (especially those with Agrément) have strong acquirer acceptance. Pricing 0.5-2.5% IC++. France was an early structured framework, MiCA transition is straightforward.
Notes and pitfalls
Enregistrement is mandatory; Agrément is optional but signals quality. Operators who skip Agrément face moderately tighter acquirer underwriting.
Reference information, not legal advice. Figures are typical ranges as of 2026.
PSAN questions.
How do acquirers view the PSAN licence?
Acquirer acceptance is Moderate. PSAN-licensed operators (especially those with Agrément) have strong acquirer acceptance. Pricing 0.5-2.5% IC++. France was an early structured framework, MiCA transition is straightforward.
What does the PSAN cost and how long does it take?
Cost: Substantial AMF fees + setup. Timeline: 6-12 months. Capital: Reasonable (case-by-case under Enregistrement; higher under Agrément). These are typical ranges as of 2026; verify with the regulator before budgeting.
Does BZNpay help with PSAN applications?
No. We are an introducer to acquirers, not a licensing agent. We can tell you how this licence plays with the acquirer pool and introduce you to the partners whose appetite covers it.