Credit Agricole’s CACEIS, an asset servicing business, has successfully registered with France’s financial markets regulator, AMF, to provide custody services for digital assets, including cryptocurrencies. This marks a significant step for a traditional financial institution entering the crypto space.
CACEIS Joins French Regulator’s Approved Crypto Custody Providers
CACEIS, owned by Credit Agricole and Santander, has obtained registration as a digital asset service provider (DASP) from France’s financial markets regulator, AMF. This enables it to offer custody services for digital assets, including cryptocurrencies.
France has shown support for the cryptocurrency industry, becoming the first major European country to grant registration to Binance, the world’s largest crypto exchange. The investor service now adds to the growing number of traditional financial institutions venturing into the crypto sector.
CACEIS Expands Digital Asset Services with Regulatory Status
With €4.1 trillion ($4.51 trillion) in assets under custody, CACEIS is a significant player in the financial industry. The registration as a crypto custody provider further solidifies the company’s foray into digital asset services.
CACEIS Bank, a subsidiary catering to asset managers, insurers, pension funds, and private equity firms, has also been registered by France’s Financial Markets Authority. This aligns it with other major financial entities, including Societe Generale’s Forge and AXA Investment Managers, operating under Europe’s progressive crypto regulatory framework.
Traditional Finance Embraces Crypto Market
Traditional financial institutions (TRAFI) are increasingly exploring opportunities in the crypto space. Deutsche Bank recently announced its pursuit of a crypto custody license in Germany, while BlackRock, the world’s largest asset manager, filed for a Bitcoin-linked exchange-traded fund.
CACEIS’ registration as a crypto custody provider underscores the broader acceptance of digital assets and the evolving role of traditional finance in this emerging market. As regulatory frameworks continue to evolve, the involvement of established players like the France company contributes to the mainstream adoption of cryptocurrencies.
Credit Agricole’s CACEIS has successfully registered as a crypto custody provider in France, joining the growing list of traditional financial institutions expanding into the cryptocurrency market. With the approval from France’s financial markets regulator, CACEIS strengthens its position in the digital asset services sector and contributes to the wider adoption of cryptocurrencies within the mainstream financial industry.