Banking Giant CACEIS Starts Crypto Custody Service

    CACEIS, a French-based European bank with 4+ trillions of euros in assets, has received permission from France's markets regulator Autorité des marchés financiers (AMF), to provide custody services for all digital assets, including cryptocurrencies such as Bitcoin.

Who entered the crypto business with Caceis?

     Caceis is a public company created in 2005; it is also the custodial bank of France-based Crédit Agricole and Spain-based Santander Group. Crédit Agricole is the world's largest cooperative financial institution, and Santander is a multinational European bank. With the entry of Caceis into crypto service, its shareholders are also indirectly involved in the crypto sector and may further serve this sector directly.

Biggest Rival of Banks are Accepted by Bank

     The core of Crypto is related to economic freedom; it is considered the biggest rival of banks, but for some time, banks affected by the digital revolution have been digitising their work and including Crypto in it. With this, whether crypto investors will invest in banks or not is a different matter, but those who invest in banks will definitely be able to invest in crypto.

Special Advantage for CACEIS

     CACEIS has gained the licence from the AMF, which is advantageous because, in July, France will implement a new anti-money laundering law that will tighten regulations on the crypto sector. Companies that have been permitted by the AMF will be governed by the EU's lenient "Markets in Crypto-Assets" (MiCA) regulations. Additionally, Caceis' ability to conduct business across Europe will be beneficial.

Brought to you by Yugocean, originally posted here.