One of Europe’s largest asset servicing groups has recently been licensed by financial market regulator Autorité des Marchés Financiers (AMF) to offer crypto custody services in France.
According to a new press release, CACEIS Bank, the banking branch of the CACEIS group in France, has just received PSAN status (Prestataires de Services sur Actifs Numériques) from the AMF, with which the financial institution operate as a custodian of crypto assets authorized to store users’ private keys.
CACEIS is owned by banking giants Credit Agricole and Santander.
In a statement, CACEIS say it is the only French preservation specialist to be awarded PSAN status.
“PSAN status enables CACEIS Bank to offer digital asset custody services to third parties and respond to growing demand from asset managers and institutional investors. It is the first milestone in the development of an innovative digital asset custody offering that offers the same level of security as traditional assets…
This status ensures that the digital asset ecosystem in which CACEIS operates is built with reliability at its core.”
Says Arnaud Misset, chief digital officer of CACEIS,
“In practice, we will provide secure storage for our customers’ digital private keys using state-of-the-art technology.”
According to AMF’s website, CACEIS registered as a digital asset service provider (DASP) on June 20.
CACEIS is one of the leading players in the asset servicing industry serving institutional and corporate clients with $2.3 trillion in assets under management.
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