One of the major asset-servicing groups in Europe has recently obtained a license from the financial market regulator Autorité des Marchés Financiers (AMF) to offer crypto custody services in France. CACEIS Bank, the French banking arm of the CACEIS group, has been granted PSAN (Prestataires de Services sur Actifs Numériques) status by the AMF. This status allows CACEIS Bank to function as an authorized custodian of crypto assets, responsible for securely storing private keys for users. CACEIS Bank, owned by banking giants Credit Agricole and Santander, is the sole French custody specialist to have received PSAN status. With the newly acquired PSAN status, CACEIS Bank aims to meet the increasing demand for digital asset custody services from investment management companies and institutional investors. This development marks the initial step in establishing an innovative digital asset custody offering that prioritizes the same level of security as traditional assets. Arnaud Misset, CACEIS Chief Digital Officer, emphasizes that the institution will leverage advanced technology to provide secure storage for private digital keys for clients. CACEIS officially registered as a digital asset service provider (DASP) on June 20th. With $2.3 trillion in assets under administration, CACEIS is a prominent player in the asset-servicing industry, catering to institutional and corporate clients.
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