Banking Giants Crédit Agricole, Santander Seek to Provide Crypto Custody Under French Registration
A subsidiary co-owned by Crédit Agricole and Santander has registered as a digital asset service provider in France. The registration of Caceis, a company that specializes in offering financial services to institutional investors, allows the two major European banks to tap into the crypto market. The registration, granted by the AMF earlier this week, will allow the entity, Caceis, to provide custody services for digital assets, including cryptocurrencies.
The move adds a major traditional financial services group to the growing number of crypto companies registered by the French watchdog, Reuters noted in a report. The DASP list already includes subsidiaries of other big players in the French financial market such as Societe Generale and AXA. Caceis was established in 2005 through the merger of the asset management activities of Crédit Agricole and Caisse d’Epargne, a French cooperative banking group. With a 69.5% stake, Crédit Agricole is its majority owner while Santander has a 30.5% stake. France has been open towards the crypto industry. Among the companies it registered as DASPs is Binance, the world’s largest cryptocurrency exchange.
Source
https://t.me/Crypto_Bitcoin_Blockchain
