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Credit Agricole’s CACEIS registers in France as crypto custody services providerReuters

Credit Agricole’s CACEIS, the asset servicing business owned by Credit Agricole and Santander, has registered with France’s markets regulator AMF to provide custody services for digital assets, such as cryptocurrencies.

The company registered as a digital asset service provider (DASP) on June 20, according to AMF’s website,

adding a major traditional financial services group to the growing number of crypto companies registered by the French watchdog.

CACEIS had 4.1 trillion euros ($4.51 trillion) in assets under custody at the end of last year, according to its website.

Credit Agricole SA is its majority owner with a 69.5% stake, while Santander holds a 30.5% of the group.

How does CACEIS’s registration as a digital asset service provider (DASP) affect the cryptocurrency industry in France ?

France has been supportive of the nascent industry and was the first major European country to grant registration to the world’s biggest cryptocurrency exchange, Binance.

Credit Agricole’s CACEIS registration as a digital asset service provider (DASP) in France is a significant development for the cryptocurrency industry in France.

Here are some ways it could affect the industry :

  • Increased legitimacy: CACEIS is a major traditional financial services group, and its registration as a DASP adds to the growing number of crypto companies registered by the French watchdog.
  • This move could increase the legitimacy of the cryptocurrency industry in France and encourage more traditional financial institutions to enter the market.
  • Increased competition: CACEIS’s entry into the market could increase competition among crypto custody service providers in France.
  • This could lead to better services and lower fees for customers.
  • Increased investor confidence: The registration of CACEIS as a DASP could increase investor confidence in the cryptocurrency industry in France.
  • This could lead to more investment in the industry and more growth.

Overall, CACEIS’s registration as a DASP is a positive development for the cryptocurrency industry in France and could lead to increased legitimacy, competition, and investor confidence

What services does CACEIS offer as a digital asset service provider in France

As a digital asset service provider (DASP) in France, CACEIS can offer digital asset custody services to third parties.

This means that CACEIS can hold and safeguard digital assets, such as cryptocurrencies, on behalf of its clients.

The registration of CACEIS as a DASP adds to the growing number of crypto companies registered by the French watchdog, and it is a significant development for the cryptocurrency industry in France.

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