French State Bank BPI Gives €1M Loan to DeFi Project Atlendis
French public investment bank BPI has recently granted a €1 million loan to DeFi lending platform Atlendis.
Atlendis has also obtained a PSAN license, which is the basis of the MiCA regulatory framework, approved on April 20.
Atlendis will use the loan to develop its Atlendis Flow project, which provides direct crypto-fiat transactions. It is currently accessible to accredited investors who must complete an identity verification process.
Karmen and Fluna are already utilizing the protocol. Originally, Atlendis loaned funds to Web3 companies, DAOs, other DeFi protocols, and market makers. With the market downturn, however, the company is now focusing on the private debt sector, which is estimated to be worth around $1.5 trillion.
This is similar to Zodia Custody’s Series A funding round that raised $36 million in 2021, when they were granted a license by the UK Financial Conduct Authority.
