Credit Agricole (CAGR.PA) and Santander (SAN.MC) own the asset servicing company CACEIS, which has registered with the French markets regulator AMF to provide custody services for digital assets like cryptocurrencies.
According to AMF’s website, the company registered as a digital asset service provider (DASP) on June 20, adding a significant traditional financial services organization to the growing list of crypto businesses registered by the French regulator.
France was the first major European nation to register Binance, the largest cryptocurrency exchange in the world, and has been supportive of the emerging sector.
Besides Societe Generale and AXA, other well-known French financial institutions’ subsidiaries are also included in the DASPs registered with AMF.
According to its website, CACEIS had assets worth 4.1 trillion euros (or $4.51 trillion) in its custody at the end of last year. With a stake of 69.5%, Credit Agricole SA controls the majority of the company, while Santander controls 30.5%.
($1 = 0.9085 euros)