CACEIS Secures Regulatory Approval for Crypto Custody Services, Joins Ranks of Traditional Finance Firms Embracing Crypto

CACEIS, the asset servicing division of major banks Crédit Agricole and Santander, has obtained regulatory approval from French authorities to offer crypto custody services. On Tuesday, June 20, CACEIS Bank was officially registered by France’s Financial Markets Authority (AMF), as stated on the regulator’s website. This achievement places CACEIS alongside other established financial institutions such as Societe Generale’s Forge and AXA Investment Managers, all operating within one of Europe’s most progressive crypto regulatory frameworks. The European Union is set to introduce new crypto licensing regulations called MiCA in 2024.

Rumors about CACEIS seeking crypto regulatory status had been circulating since 2021. In France, registration with the AMF is mandatory for entities providing crypto custody, exchange, or trading services. Notably, Binance, the largest cryptocurrency exchange globally, is currently under investigation by French authorities for allegedly offering services illegally before obtaining approval in 2022.

This recent development reflects a growing trend of traditional finance companies expressing interest in venturing into the crypto sphere. Just days before, Deutsche Bank announced its pursuit of a crypto custody license in Germany. Additionally, BlackRock, the world’s largest asset manager, recently filed for permission to operate an exchange-traded fund tied to the price of bitcoin (BTC). These moves underscore the increasing convergence between traditional finance and the world of cryptocurrencies.

Related Posts

Leave a Reply


Subscribe To Newsletter

For updates and exclusive offers, enter your e-mail below.

Popular Posts

Nigerian Government Refutes U.S. Lawmakers’ Claims on Binance Executive’s Health in Detention
June 23, 2024By
Nigerian SEC Unveils Accelerated Program for Virtual Assets Service Providers
June 23, 2024By
Winklevoss Twins Donate $1 Million in Bitcoin Each to Support Trump’s Presidential Campaign
June 21, 2024By


Video Posts

Crypto Stats

CryptoCurrencyUSDChange 1hChange 24hChange 7d
Bitcoin64,064 0.09 % 0.32 % 3.67 %
Ethereum3,474.3 0.09 % 0.46 % 3.38 %
Tether0.9992 0.03 % 0.06 % 0.01 %
? --- 0.00 % 0.00 %
? --- 0.00 % 0.00 %
? --- 0.00 % 0.00 %
? --- 0.00 % 0.00 %
? --- 0.00 % 0.00 %
? --- 0.00 % 0.00 %
? --- 0.00 % 0.00 %

Please enter CoinGecko Free Api Key to get this plugin works.