- There have been rumors that the financial giant has been seeking this status for years.
- Also recently, Deutsche Bank applied for a crypto custodian license.
CACEIS is Crédit Agricole’s asset servicing banking group, received permission from French regulators to provide services for the storage of cryptocurrencies.
The company, which provides services to asset managers such as insurers, pension funds, and private equity funds, registered as a Digital Asset Service Provider (DASP) on June 20. The move adds it to the list of crypto companies that have received registration from the French regulator and are adding a wide range of traditional financial services to their activities.
As of December 2021, CACEIS had $5.06 trillion in custody and $2.64 trillion in assets under management. In addition, the company is owned 69.5% by its parent company Crédit Agricole and 30.5% by Banco Santander.
In 2021, there were reports that CACEIS is in the process of building a cryptocurrency custody solution. Then they wrote that the company “is looking for something quite integrated, not just a solution for the custodial part, but something comprehensive and meeting various needs.”
Recently, the German bank Deutsche Bank AG announced that it has applied for permission from the local regulator to provide custody services for digital assets.