CACEIS Bank, a prominent asset-servicing group in Europe, has received regulatory approval from the Autorité des Marchés Financiers (AMF) to offer crypto custody services in France.

The financial institution, owned by Credit Agricole and Santander, has been granted PSAN (Prestataires de Services sur Actifs Numériques) status, allowing it to act as a licensed custodian for crypto assets.

This development highlights CACEIS’ commitment to meeting the increasing demand for digital asset services from institutional investors and investment management companies.

As the only French custody specialist with PSAN status, CACEIS Bank has positioned itself as a pioneer in the digital asset custody space.

This significant milestone enables the institution to provide secure storage solutions for clients’ private digital keys, utilizing cutting-edge technology to ensure robust security measures.

By offering the same level of security as traditional assets, CACEIS aims to foster trust and reliability within the digital assets ecosystem.

Arnaud Misset, CACEIS’ chief digital officer, emphasizes the practical implications of the newly acquired status. Misset states that CACEIS will leverage state-of-the-art technology to securely store clients’ private digital keys.

With this strategic move, CACEIS aims to address the evolving needs of its clients and facilitate their participation in the digital asset market.

The recent registration of CACEIS as a digital asset service provider (DASP) on the AMF’s official website further solidifies its position in the industry.

CACEIS, with a massive $2.3 trillion in assets under administration, holds a prominent position within the asset-servicing industry for institutional and corporate clients.