Regulatory information · Automata France SAS, Vancelian

FAQ: Wind-down of digital asset (crypto) services

Detailed FAQ: understanding the situation, your options, your deadlines and the terms product by product.

You have several options to recover or transfer your assets. This FAQ guides you step by step.

From now on, we encourage you to make your choice for an exit or transfer of your assets. After 30 June, the Vancelian platform will continue to provide the features needed to carry out the exit or transfer options set out in the plan and described below.

Deadline to recover or transfer your assets

Before 30 June 2026

End of digital asset (crypto) services

30 June 2026

Section 1

Understanding the situation

Why is Automata France ending its digital asset (crypto) services?

Automata France SAS must end its digital asset (crypto) services on 30 June 2026, the deadline of the transitional period provided for by the MiCA regulation, because the company will not be in a position to obtain the CASP authorisation by that date. Indeed, the MiCA regulation provides that, as of 30 June, providers must hold this authorisation in order to continue their activities.

Failing that, they must put in place a structured transition that complies with regulatory requirements, allowing their clients to choose the most suitable solution to safeguard or transfer their crypto-assets.

Key takeaway

Automata France SAS will end its digital asset (crypto) services on 30 June 2026. An exit or transfer solution will be offered for each client and for each product. No crypto-asset will be lost.

Are the funds held by Automata France safe?

Yes. While the Automata France SAS service wind-down plan is being carried out, your funds remain fully safe.

The current limitations in place in no way mean that your funds are lost: solutions are provided for each product, in accordance with the applicable contractual and regulatory framework. Their purpose is to organise the orderly exit or transfer of your digital assets (crypto) held by Automata France SAS.

The security of your digital assets (crypto) and your euro funds relies on recognised partners, robust technical systems and protection mechanisms compliant with applicable standards.

Security of your digital assets (crypto)

Your digital assets (crypto) are held via Fireblocks, one of the most recognised custody providers in the sector. The assets are kept in a secure environment, with segregation and control mechanisms suited to protecting client funds.

Learn moreFireblocks

Security of your euro funds

The payment services linked to your euro account are provided by Modulr Finance B.V., a regulated electronic money institution. Your euro funds are held in segregated accounts, in accordance with applicable regulations and the Terms and Conditions. Client funds are kept separate from the institution’s own funds and protected under the rules applicable to electronic money institutions.

Learn moreModulr Finance

Key takeaway

Your funds are not lost and remain fully safe. The current plan aims to organise a structured and secure transition so that each client can choose the most suitable solution for their digital assets (crypto) and euro funds.

Is Vancelian continuing its activities?

Yes. Internationally, the Vancelian group continues its activities.

The service wind-down plan concerns only the digital asset (crypto) services operated by Automata France SAS, as part of the regulatory transition tied to the expiry of the transitional period provided for by the MiCA regulation.

The group’s other activities continue. Vancelian keeps operating and developing its services through the Automata group, based in the United Arab Emirates, and its various subsidiaries.

This situation therefore does not call into question the existence of the group, nor the continued development of the Vancelian platform as part of its global strategy.

The Automata group is also doing everything possible to organise the continuity of its activities in Europe. Automata France is pursuing its efforts to re-file its CASP authorisation application as soon as possible, so that it can resume its crypto-asset activities once the authorisation is obtained.

Key takeaway

The service wind-down plan concerns only the regulatory scope of Automata France SAS for its custody, buy/sell and exchange services for crypto-assets in Europe. Automata France is pursuing its efforts to re-file its CASP authorisation application as soon as possible, so that it can resume its crypto-asset activities once the authorisation is obtained.

Section 2

What changes in your app

To fully understand what changes, you need to distinguish between the services and offers: they work differently and are not affected in the same way by the current service wind-down plan.

Your euro account, your IBAN, your card and the associated payment services are provided by Modulr Finance B.V., a regulated electronic money institution.

More about our banking partner

Modulr Finance B.V. is authorised and regulated by De Nederlandsche Bank (the Dutch central bank) as an Electronic Money Institution.

Learn moreModulr Finance

These services are distinct from the digital asset (crypto) services operated by Automata France SAS. The wind-down of Automata France SAS digital asset (crypto) services does not, in itself, call into question the framework applicable to your euro account.

Your euro balance remains available for viewing and withdrawal in the app. Your euro funds are held in segregated accounts by Modulr Finance B.V., in accordance with the rules applicable to electronic money institutions. Operations on your account remain subject to the Terms and Conditions and to any applicable technical, regulatory or operational limitations.

Key takeaway

Your euro account is a service distinct from the digital asset (crypto) services affected by the wind-down plan. It remains accessible under the terms applicable to payment services. You will always be able to withdraw your euro funds to your bank account.

The wind-down plan concerns the digital asset (crypto) services operated by Automata France SAS, in particular:

custody of digital assets (crypto);
digital asset (crypto) deposits;
digital asset (crypto) withdrawals;
exchanges between euros and digital assets (crypto);
exchanges between digital assets (crypto).

As of 30 June 2026, Automata France SAS will no longer be able to provide the custody, buy/sell and exchange services for digital assets (crypto) affected by the wind-down plan.

No, they remain safe.

The measures in place in no way mean that your digital assets (crypto) are lost. Their purpose is to organise an orderly exit or transfer of your digital assets (crypto), within a secure, structured framework compliant with applicable regulations.

The digital assets (crypto) held in the app rely in particular on the Fireblocks infrastructure, used for the secure management of digital wallets, private keys and digital asset (crypto) movements.

Key takeaway

Your digital assets (crypto) are not lost. The plan aims to organise their exit or transfer before the affected services end.

No. Nevertheless, your holdings remain protected and held fully safely.

Vaults and Exclusive Offers do not work like a simple digital asset (crypto) wallet available at any time. They are savings or investment products in which funds are committed under the terms specific to each product, in order to generate a return.

In practice, in accordance with the Terms and Conditions, amounts deposited into a Vault are converted into EURC, then allocated to a diversified allocation made up of several components that may include:

a EURC liquidity pocket, shared among the Vault’s users;
components invested in Exclusive Offers in bitcoins, governed by specific terms (the “Exclusive Offers T&Cs”) and carried by third-party companies and counterparties;
the Mining Program (cloud mining), operated through partnerships with third-party entities.

Your funds are therefore not simply held by Automata France SAS as digital assets (crypto) available in a wallet: depending on the product, they are allocated to allocations, programs or third-party companies and counterparties, in accordance with the applicable contractual framework.

T&C references

Articles 4.2.6 (Flexible Vault), 4.2.7 (Future Vault), 4.2.10 (Mining Program) and 4.2.16 (Exclusive Offers) of the Terms and Conditions.

Yes, the funds are not lost and remain fully safe. They remain governed by the contractual terms applicable to each product, accepted at the time of the initial subscription. Your returns will therefore be paid to you under normal conditions.

Exposure to third parties and counterparties

Because a Vault is a diversified allocation, part of the funds may be invested in Exclusive Offers carried by third-party companies, or in the Mining Program operated with third-party partners. The value and availability of these components therefore also depend on these third parties and counterparties, and not solely on the custody provided by Automata France SAS.

Variable liquidity depending on the product

Some components include less liquid assets. Depending on the offer subscribed, funds may be locked for a certain period (for example an initial twelve-month lock-up for the Future Vault), subject to withdrawal conditions, to a queue or to the availability of liquidity in the shared EURC pocket. Availability therefore depends on the rules specific to each product, and not on the workings of a simple segregated digital asset (crypto) wallet.

Key takeaway

Your assets are in no way lost and their terms of operation remain identical to those set out in the Automata Terms and Conditions (Articles 4.2.6 Flexible Vault, 4.2.7 Future Vault, 4.2.10 Mining Program and 4.2.16 Exclusive Offers). Nevertheless, Vaults and Exclusive Offers do not work like a digital asset (crypto) wallet. Owing to the characteristics specific to the Vaults and Exclusive Offers, set out in the Terms and Conditions, the holdings placed in these offers cannot be made immediately available. Your holdings nonetheless remain fully secure and protected and will be returned to you.

Vaults, like the Flexible Vault or the Future Vault, are diversified allocations. In practice, this means a Vault can be made up of several pockets or components, for example:

a EURC liquidity pocket;
Exclusive Offers;
the Cloud Mining Program;
other components provided for by the product’s terms.

To provide a daily return, the funds in a Vault are spread across several investments. As a result, the money is not stored in a single, immediately accessible reserve. The time needed to recover funds may therefore vary depending on the investments that make up the Vault and on the contractual conditions of each component.

A simple example

When the crypto-assets deposited in a Vault are allocated, for example, to the Cloud Mining Program, that part cannot necessarily be released immediately. This is why a withdrawal may depend on the liquidity available in the Vault at the time of the request.

The Flexible Vault was designed to offer more flexibility than a fixed-term product with a lock-up. However, even when a withdrawal can be requested at any time, its processing remains subject to the availability of sufficient liquidity.

As part of the service wind-down plan, access to the Flexible Vault is restricted and the processing of withdrawals may be temporarily affected.

Why? Because under normal conditions, the management of the Flexible Vault relies on a balance between:

new inflows;
withdrawal requests;
the available liquidity pocket;
allocations already committed in the underlying products.

During the wind-down phase, however, new inflows are stopped. The liquidity pocket can therefore no longer be replenished under the usual conditions. This makes withdrawal processing more complex during the transition period.

This situation does not call into question the existence of the funds, nor users’ contractual rights. Your returns will therefore still be paid. It reflects a liquidity constraint tied to the very nature of the product and to the specific context of the wind-down plan.

A technical solution is being created to organise this situation in an orderly manner, subject to operational, technical and compliance validation.

Reminder of the Terms and Conditions, Flexible Vault

The Flexible Vault allocation may change over time depending on market conditions; some components may include less liquid assets; this lower liquidity may slow rebalancing or the release of liquidity in the event of high withdrawal demand. Users can request a withdrawal 24/7, with no initial lock-up, but the request is recorded in an automated queue. If there is sufficient availability in the shared EURC pocket, the withdrawal is executed; otherwise, the request remains pending until liquidity is replenished. Reference: article 4.2.6 of the T&Cs.

Key takeaway

The Flexible Vault remains governed by its initial contractual terms. The end of services organised by the wind-down plan temporarily constrains the processing of withdrawals, because liquidity can no longer be managed under the usual conditions. Requests may therefore remain pending until a technical solution is made available. This solution will be presented to the Autorité des Marchés Financiers and communicated to clients as soon as possible.

The Future Vault also works as a diversified allocation. It may be made up of several components, including a liquidity pocket, Exclusive Offers or the Mining Program. It also provides for its own terms, in particular an initial lock-up period and specific withdrawal conditions.

The service wind-down plan does not suspend the contractual terms applicable to the Future Vault. The conditions of term, return, withdrawal and liquidity remain those provided for by the Terms and Conditions and by the product’s own terms.

T&C reference

Article 4.2.7 of the Terms and Conditions.

Key takeaway

The Future Vault continues to be governed by its contractual terms. Its availability depends on the rules specific to the product. A platform allowing you to view your returns and maturities will be made available. We invite you to refer to the wind-down plan for the continuity terms of the Vaults and Exclusive Offers.

Crypto Baskets (Bundles) are allocations grouping several digital assets (crypto) according to a defined split. They cannot be transferred as a whole to an external wallet or to another provider.

The only way to recover the value of a Crypto Basket is to sell it in the app (into euros or USDC), then withdraw the resulting balance: a bank transfer for the euro part, an on-chain transfer for the USDC part (if you opted for that conversion). No option to transfer the basket as-is is available.

Important

The option to transfer to a CASP platform or to a self-custody wallet (see “Your exit or transfer options”) does not apply to Crypto Baskets. For these products, you must first sell them in the app before you can initiate a withdrawal.

Key takeaway

Crypto Baskets cannot be transferred as a whole. You can only sell them in the app, then withdraw the resulting balance (in euros via bank transfer, or in USDC via an on-chain transfer).

Exclusive Offers continue to be governed by their own contractual terms. Each offer has its own conditions, in particular regarding:

term;
return;
repayment;
availability;
withdrawal.

The service wind-down plan does not suspend these terms. It organises the wind-down of the Automata France SAS digital asset (crypto) services, but the rights and obligations tied to the Exclusive Offers remain governed by the conditions applicable to each offer, concluded between users and the companies carrying the respective projects.

Key takeaway

The Exclusive Offers are not called into question by the wind-down plan. They continue to be governed by their own contractual terms, in particular regarding term, repayment and liquidity.

You must have withdrawn, transferred or converted your digital assets (crypto) before 30 June 2026.

However, after that date, access to the Vancelian platform, via the mobile app or the web space, will be maintained, in particular to allow users to access information related to their account and their history.

After 30 June 2026, any crypto-assets still held will be automatically converted into euros, which can be withdrawn at any time.

Clients inactive after 30 June

For clients who remain inactive for 90 days following 30 June 2026, the funds will be deposited with the Caisse des Dépôts et Consignations (Article L. 518-17 of the French Monetary and Financial Code), with customer service maintained (in particular to handle residual complaints, requests to return euro funds, and to assist, where applicable, with recovering the deposited funds). These funds can be recovered by the clients.

Access to the digital asset (crypto) services operated by Automata France SAS will be restricted from 30 June 2026: certain features (custody, deposit, withdrawal or exchange of digital assets) will no longer be available or will be limited, and accessible only under the conditions of the plan described above.

For users of the B2B web platform, access to the online space and to information about the affected services may also be maintained under the terms applicable to each service.

Key takeaway

Access to the platform will be maintained after 30 June 2026. However, the digital asset (crypto) services operated by Automata France SAS will be limited from that date to the implementation of the wind-down plan, to allow the exit or transfer of assets.

Section 3

Your exit or transfer options

Several options let you recover or transfer your assets from now and before 30 June 2026.

This option lets you sell your digital assets (crypto) for euros, then withdraw the available balance to a bank account in your name, by transfer via IBAN. It is the simplest solution if you do not wish to transfer your assets to another provider or to an external (self-custody) wallet.

Advantages

A simple solution via a standard bank transfer. No need to enter an external blockchain address. Funds are recovered directly in euros, to your usual bank account. This option does not require holding or managing a wallet.

Points to note

The conversion depends on the market price at the time it is executed. Transaction or conversion fees may apply. Once the conversion is done, you no longer hold any exposure to the digital assets (crypto) concerned. After conversion to euros, these assets can no longer be withdrawn to an external wallet or transferred to another provider.

Who is it for? Clients who simply want to close their positions and recover their funds in euros to their bank account, or who do not have a compatible wallet and do not wish to handle a transfer themselves.

This option lets you transfer your digital assets (crypto) to an external address of your choice: an address at another crypto-asset service provider regulated in Europe (CASP/PSCA), or a personal wallet compatible with the asset and network used. You keep your assets, without converting them to euros.

Advantages

You keep your digital asset (crypto) positions. You avoid a conversion to euros. You can keep managing your assets from another platform, another provider or a compatible wallet. You retain control over the choice of your provider or custody solution. Transfer fees may be limited depending on the asset and network used.

Points to note

For this exit option, you must have an external account or a compatible wallet before initiating the transfer. You are responsible for the accuracy of the destination address you provide. An error in the address, network or compatibility may result in the permanent loss of the funds. Some assets may not be supported by all providers regulated in Europe. Processing times may depend on internal checks, the blockchain network used and the destination provider or wallet.

Who is it for? Clients already familiar with external crypto platforms, personal wallets and on-chain transfers, who have a compatible external solution or are able to set one up before the applicable deadline.

This option does not cover Crypto Baskets (Bundles)

Crypto Baskets cannot be transferred as a whole to a CASP or a self-custody wallet. For these products, you must first sell them in the app. See the dedicated question in the “What changes in your app” section.

Transfers are only possible to an address compatible with the networks supported by Automata France. At this stage, the networks under consideration are Ethereum / ERC-20 and Base.

Before any transfer, you must make sure the address you provide is compatible with:

the digital asset concerned;
the selected blockchain network;
the destination provider or wallet.

Important

An incorrect, incomplete or incompatible address may result in the permanent loss of the transferred funds.

A self-custody address is a wallet address that belongs to you and that you keep control of. You are responsible for access to your account and for the security of your wallet, by holding your private keys and signing your transactions yourself.

You can transfer your assets to any crypto-asset service provider (CASP/PSCA) authorised in Europe, compatible with the asset and network concerned. The choice of provider is yours.

To help you, the French Financial Markets Authority maintains an official list of crypto-asset service providers (CASP/PSCA) authorised in France. This public list is updated regularly by the regulator.

View the official list

We do not recommend any specific provider and cannot guarantee that a third-party service is suitable for your situation. Compare the offers, fees, supported assets and networks before opening an account. Before any transfer, check the accuracy of the destination address provided by the chosen provider.

Learn morePSAN / PSCA whitelist (AMF)

Section 4

Deadlines

From now on, we encourage you to make your choice for an exit or transfer of your assets before 30 June 2026.

After 30 June 2026, the Vancelian platform will continue to provide the features needed to carry out the exit or withdrawal options set out in the plan and described above.

Section 5

Vancelian native tokens

AKTIO is subject to specific handling.

Please note

AKTIO is not supported by providers regulated in Europe and cannot be transferred to BitMart from Vancelian.

Learn moreBitMart

A technical solution has been implemented so that you can transfer them to any compatible ERC-20 address of your choice.

More information will be shared with you soon.

Section 6

Practical matters

Depending on the option chosen, fees may apply: transaction and conversion fees for a withdrawal to euros, network (“gas”) fees for an on-chain transfer to an external or self-custody address. These fees depend on the asset, the network and market conditions at the time of the operation.

On-chain transfers from Vancelian are possible for the following digital assets (crypto):

Ethereum (ETH)
USD Coin (USDC)
Wrapped Bitcoin (wBTC)
Chainlink (LINK)
Uniswap (UNI)
Aave (AAVE)
Fetch.ai (FET)
Shiba Inu (SHIB)
Pepe (PEPE)

Please note: AKTIO (the Vancelian native token) is not among the transferable assets. See the specific conditions in section 5.

Transfers are carried out on the Ethereum network (ERC-20 standard). USDC can also be transferred on the Base network.

Always check the destination network

Before any transfer, make sure the destination address is compatible with the selected asset and network. Sending to a network not supported by the destination provider or wallet may result in the permanent loss of the funds. If in doubt, contact the support team of your destination provider.

Contractual framework

Read our Terms and Conditions

The service wind-down plan does not suspend the Terms and Conditions applicable in the app, nor the contractual terms specific to the offers you have subscribed to.

Read the Terms and Conditions

Support

Need help?

Our support team is available to assist you. A real person will get back to you.

support@vancelian.com

This page is a translation of the original French version, drawn up in coordination with the regulator. It may contain inaccuracies. For any detailed query, the French version prevails and should be used as the reference.

View the French version

Automata France SAS, Vancelian. This FAQ is an information document intended for Automata France SAS clients as part of the wind-down plan for digital asset (crypto) services. It does not constitute investment advice, tax advice or legal advice. If in doubt, please consult your adviser.