In a significant development for the cryptocurrency industry, CACEIS Bank, a prominent asset-servicing group in Europe, has secured a license from the financial market regulator Autorité des Marchés Financiers (AMF) to offer crypto custody services in France.
CACEIS Bank Granted Prestigious PSAN Status
As per the latest press release, CACEIS Bank, the banking arm of the CACEIS group operating in France, has been granted the prestigious Prestataires de Services sur Actifs Numériques (PSAN) status by the AMF. This authorization empowers CACEIS Bank to serve as a trusted custodian for crypto assets and securely store users’ private keys.
A Remarkable Achievement for CACEIS
CACEIS, which is backed by banking giants Credit Agricole and Santander, proudly declares that it is the sole French custody specialist to receive the coveted PSAN status. This significant milestone further strengthens their position as a trusted custodian in the digital asset industry.
Meeting Growing Demand
The grant of PSAN status opens doors for CACEIS Bank to offer digital asset custody services to third parties, catering to the increasing demand from investment management companies and institutional investors. CACEIS recognizes the evolving landscape of digital assets and aims to provide a secure and innovative custody solution that ensures the same level of security as traditional assets.
Emphasizing Reliability and Security
Arnaud Misset, CACEIS’ chief digital officer, highlights the importance of PSAN status, stating, “This status ensures that the digital assets ecosystem, in which CACEIS operates, is built with reliability at its core.” CACEIS is committed to leveraging state-of-the-art technology to provide secure storage for clients’ private digital keys, prioritizing their safety and peace of mind.
CACEIS Registers as a DASP
On June 20th, CACEIS successfully registered as a digital asset service provider (DASP) with the AMF. This registration further solidifies their position as a trusted entity in the cryptocurrency custody space.
A Leading Player in the Asset-Servicing Industry
With assets under administration amounting to an impressive $2.3 trillion, CACEIS stands as one of the top contenders in the asset-servicing industry, serving institutional and corporate clients. This latest development signifies their commitment to embracing the digital asset landscape and offering exceptional services to their esteemed clientele.
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Source: The Daily Hodl
