CACEIS Bank gets Digital Assets Service Provider status in France
By Gloria Methri
CACEIS Bank, the CACEIS group’s French banking entity, has been granted the status of Digital Assets Service Provider by the AMF, France’s Financial Markets Authority, acting on the advice of France’s Prudential Control and Resolution Authority.
The 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 traditional assets.
Arnaud Misset, CACEIS’ Chief Digital Officer said, “In practical terms, we will provide secure storage for our client’s private digital keys leveraging state-of-the-art technology”.
CACEIS Bank is currently the only French custody specialist to be granted PSAN status. And this status ensures that the digital assets ecosystem, in which the company operates, is built with reliability at its core.
Eliane Méziani, CACEIS’ Senior Advisor for Public Affairs added, “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 our role as a trusted third party.”
CACEIS is an asset-servicing banking group specialising in added-value financial services for all asset classes. With a solid IT infrastructure, the company provides execution, clearing, custody, depositary, and asset valuation in markets worldwide to assist institutional investors, global custodians, asset management companies, pension funds, private equity funds, banks, brokers, and corporate clients.
CACEIS benefits from the support of its original shareholder Crédit Agricole SA, as well as Santander. It is backed by two of Europe’s largest banking groups, which gives the banking group the resources to define the most effective strategy to support its clients.
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