The crypto market is going mainstream. CACEIS, the asset-servicing banking group of Credit Agricole and Santander, has registered with the French market regulator AMF to offer cryptocurrency custody services.
CACEIS’s registration with the AMF is a significant milestone for the digital asset custody industry in France, and it is a sign of the growing acceptance of digital assets by traditional financial institutions.
It serves asset managers, such as insurers, pension funds, and private equity, and will help facilitate the adoption of digital assets by these institutions.
Traditional financial institutions are increasingly recognizing the potential of digital assets, and CACEIS’s strategic decision to offer digital asset custody services is a sign of this growing acceptance.
CACEIS’s recognition is a win for both the company and the French crypto industry, as it will help legitimize the sector and attract more investment.
CACEIS is a well-established asset custodian with a long history of providing secure and reliable services to its clients.
CACEIS is a global leader in asset servicing, with over 4.6 trillion euros in assets under its care at the end of last year. The company is owned by Credit Agricole SA (69.5%) and Santander (30.5%).
There are rumors that the firm has been seeking crypto-regulatory status since 2021, and its registration with the AMF suggests that these rumors are true. The crypto market is getting a major boost with CACEIS’s entry into the space. The company is a major player in the asset servicing market, and its expertise would be a valuable addition to the industry.
Binance is facing a major regulatory probe in France. The AMF is investigating Binance for illegally providing services in France. The world’s largest cryptocurrency exchange is under fire from regulators worldwide, as they investigate its operations.
The mainstream adoption of cryptocurrencies has experienced a massive increase in recent days.
The crypto market is gaining more mainstream attention from financial institutions. Deutsche Bank is seeking a crypto custody license in Germany, and BlackRock has applied to operate an exchange-traded fund that would be based on the price of bitcoin (BTC).
These moves suggest that financial institutions are increasingly seeing the potential of cryptocurrencies.
