$2,300,000,000,000 Asset Management Giant Registers for Crypto Custody License in France - The Daily Hodl
TL;DR CACEIS Bank, a French asset-servicing group owned by banking giants Credit Agricole and Santander, has recently been granted a license by the financial market regulator Autorité des Marchés Financiers (AMF) to provide crypto custody services in France. The company is the only French custody specialist to be granted PSAN status, which enables it to offer digital asset custody services to third parties.
One of Europe’s largest asset-servicing groups has recently been granted the license by the financial market regulator Autorité des Marchés Financiers (AMF) to provide crypto custody services in France.
According to a new press release, CACEIS Bank, the CACEIS group’s banking arm in France, just received PSAN (Prestataires de Services sur Actifs Numériques) status from the AMF, which allows the financial institution to operate as a crypto asset custodian authorized to store users’ private keys.
CACEIS is owned by banking giants Credit Agricole and Santander.
In a statement, CACEIS says it is the only French custody specialist to be granted PSAN status.
“PSAN status enables CACEIS Bank to offer digital asset custody services to third parties and respond to growing demand from investment management companies and institutional investors. It is the first milestone in the development of an innovative digital asset custody offer that provides the same level of security as for traditional assets…
This status ensures that the digital assets ecosystem, in which CACEIS operates, is built with reliability at its core.”
Says Arnaud Misset, CACEIS’ chief digital officer,
“In practical terms, we will provide secure storage for our clients’ private digital keys leveraging state-of-the-art technology.”
According to AMF’s website, CACEIS registered as a digital asset service provider (DASP) on June 20th.
CACEIS is one of the leading players in the asset-servicing industry for institutional and corporate clients with assets under administration to the tune of $2.3 trillion.
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