CACEIS Bank, one of the largest asset management firms in Europe, has recently been granted the license by the financial market regulator Autorité des Marchés Financiers (AMF) to provide crypto custody services in France.
Per a press release, the CACEIS group’s banking arm in France just received Prestataires de Services sur Actifs Numériques (PSAN) status from the AMF.
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The new development serves as a green light for CACEIS Bank to operate as a crypto asset custodian authorized to store users’ private keys.
It’s worth noting that CACEIS is co-owned by banking behemoths Credit Agricole and Santander
In the press statement, the financial institution boasts of being the first in its league to be granted PSAN status in France.
The press release reads in part:
“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.”
Arnaud Misset, CACEIS’ chief digital officer also said,
“In practical terms, we will provide secure storage for our clients’ private digital keys leveraging state-of-the-art technology.”
Eliane Méziani, CACEIS’ Senior Advisor for Public Affairs, added:
“At CACEIS, we are convinced that innovation and regulation go hand in hand. Our PSAN status is the result of several months of work and the acknowledgment of CACEIS’ role as a trusted third-party.”
As stated on the AMF’s official website, CACEIS registered as a digital asset service provider (DASP) on the 20th of June.
It’s worth mentioning that CACEIS is one of the leading players in the asset-servicing industry for institutional and corporate clients. It boasts of relatively $2.3 trillion in assets under management.
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