What PSAN means in practice
PSAN is the French regime for digital asset service providers. Using regulated providers helps create a documented conversion trail that banks and notaries can review with less friction.
Start with the legal framework overview:
/en/guide/crypto/legal-framework
AMF registration: why it matters
AMF registration signals that a provider operates under French oversight for specific services. It does not replace due diligence, but it is a baseline for compliance‑ready workflows. Always verify the exact scope of the provider’s registration and whether it fits your use case.
Why regulated providers help the closing chain
A compliant conversion path typically:
- reduces AML questions,
- produces clear EUR documentation,
- aligns timing with the notary calendar.
This does not guarantee approval, but it improves predictability compared to informal or unregulated routes.
Types of providers you may encounter
Depending on the case, buyers may consider:
- Registered exchanges offering crypto → EUR conversion.
- OTC desks for larger or time-sensitive conversions.
- Custody or trust solutions that emphasize documentation and audit trails.
The right choice depends on volume, timing, and how the EUR will reach the notary chain.
How to choose a provider
Key criteria to compare:
- AMF registration and scope of services.
- KYC/AML requirements and document lists.
- Conversion limits and settlement times.
- Banking rails and EUR transfer options.
- Fees and spreads that affect net proceeds.
- Support for your jurisdiction and residency profile.
Typical workflow and timing
- Open an account and complete KYC/AML.
- Submit source-of-funds evidence and history.
- Execute conversion and receive EUR proceeds.
- Provide confirmations to bank/notary.
Onboarding can take days or weeks, so it is safer to start early.
Documents to prepare
You will often need:
- exchange statements and transaction history;
- wallet ownership proof;
- conversion confirmations and invoices;
- bank statements showing EUR inflows;
- a short narrative memo linking the trail.
Checklist details:
/en/guide/crypto/source-of-funds
Settlement rails and timing
Ask how EUR is transferred (standard bank transfer, cut-off times, settlement windows) and how long it typically takes for funds to reach your bank. These details affect when the notary can schedule signing.
If the EUR transfer takes longer than expected, the entire closing chain can slip.
Fees, spreads, and net proceeds
Conversion fees can include spreads, fixed fees, and bank transfer costs. The goal is not only price, but predictability and documentation. A slightly higher fee may be worth it if the trail is clear and the settlement is reliable.
Provider comparison checklist
When comparing options, use a checklist rather than a single metric:
- AMF registration scope and service coverage.
- Supported assets and stablecoins.
- Maximum conversion size per transaction.
- Typical settlement time for EUR transfers.
- Documentation provided after conversion.
- Ability to work with your bank or notary.
- Onboarding and KYC/AML lead time.
- Transparency of fees and spreads.
This helps you avoid choosing a provider that is cheap but operationally slow or documentation poor.
Coordinate with the notary early
Notaries often want to see the conversion path and the source‑of‑funds package before confirming the signing date. If possible, align the provider timeline with the notary calendar and avoid last‑minute conversions.
If conversion happens abroad
Some buyers convert outside France and then send EUR into the French banking chain. This can work, but the documentation burden is usually higher. Make sure:
- the provider is regulated in its jurisdiction;
- the EUR account name matches the buyer identity;
- conversion confirmations clearly show dates and amounts;
- your bank can explain the incoming funds to the notary.
Expect extra questions and longer lead times when the conversion is offshore.
Questions to ask a provider
- What is the maximum conversion volume per transaction?
- How long does KYC/AML take for my profile?
- What documentation will I receive after conversion?
- Which banking rails are available for EUR settlement?
- What are the fees, spreads, and expected timelines?
Keep a simple conversion log
Maintain a short log with dates, amounts, wallets, provider references, and bank receipts. It helps your bank and notary reconcile the trail quickly and reduces follow-up questions.
Even a one-page summary can save days of back-and-forth. It also helps align expectations with the notary early.
Common pitfalls
- Last-minute onboarding with no time buffer.
- Using unregulated providers or informal P2P routes.
- Incomplete documentation that delays approval.
Next step: make the conversion chain clear
We can help coordinate the conversion workflow with the notary timeline.
- Start here:
/en/contact - Buyer-side support:
/en/buyer-agent
Sources
Disclaimer: Educational content only (not legal or financial advice). Provider requirements and AML policies vary by institution and profile.