CACEIS Bank, the asset servicing subsidiary of Crédit Agricole and Santander, acquires crypto custody license in France to store users’ private keys and increase institutional clients’ security. With a €2.4 trillion AUM, CACEIS avoids France’s impending stricter regulations while adhering to the EU’s MiCA legislation next year.
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CACEIS Registers as Digital Asset Provider: Balancing Decentralization and Regulation in France
Credit Agricole’s CACEIS, a joint venture with Santander, recently registered as a digital asset services provider in France. The European Union has adopted the Markets in Crypto Assets (MiCA) framework, aiming to establish comprehensive regulations for cryptocurrencies in Europe, implementing environmental safeguards, supervisory provisions, and consumer protections. French market demonstrates openness to digital assets while balancing decentralization with stricter licensing requirements.
CACEIS Bank Enters Crypto Custody: Balancing Adoption and Decentralization
CACEIS, the asset servicing branch of Crédit Agricole and Santander, has been registered by the French Financial Markets Authority to provide cryptocurrency custody services, joining major financial institutions like Societe Generale’s Forge and AXA Investment Managers under advanced crypto regulatory frameworks.
Spain’s A&G Bank Breaks Ground with First Local Crypto Hedge Fund: Promises and Pitfalls
A&G, a Spanish private bank, has launched the country’s first local crypto hedge fund —Criptomonedas, F.I.L. This fund, overseen by Spain’s financial markets regulator, is intended for professional investors and provides a safer, more efficient alternative to spot trading in cryptocurrency.
Forge: France’s First Licensed Crypto Provider – A Market Equalizer or Monopoly?
Forge, a Societe Generale subsidiary, is now France’s first licensed crypto provider. The company can custody, buy, sell, and trade digital assets for legal currency. However, the stringent approval process favors traditional banks, causing concerns over market fairness. This development underscores the balance between crypto business growth and regulatory prudence.
Bitcoin Surpasses $30,000: Factors Influencing the Rally and Future Predictions
Bitcoin surpasses $30,000 threshold for the second time this year, with altcoins like Stacks showing impressive gains. Institutional participation, such as BlackRock’s ETF application and CACEIS Bank’s crypto custody services, indicates a possible shift in traditional finance’s approach to digital assets, fueling optimism for the future of cryptocurrencies.
Taurus, Polygon, and the Rising Popularity of Asset Tokenization in Europe
Digital asset infrastructure provider Taurus integrates with Polygon blockchain, enabling clients to issue digital securities. With tokenization gaining popularity, Taurus draws interest from major banks like Credit Suisse and Deutsche Bank, blending traditional finance with innovative Web3 solutions.
Canton Network: Revolutionizing Markets or Struggling with Decentralization, Privacy, and Control
Canton Network, a privacy-enabled interoperable blockchain, aims to streamline financial markets by creating a “network of networks” for asset synchronization. With support from Microsoft, Capgemini, Deloitte and others, it seeks to balance decentralization, privacy, and control for widespread adoption by financial institutions.