green light granted for Caceis to offer cryptocurrency services
Following a recommendation from the French financial markets authority (AMF), the French banking and insurance regulator (ACPR) has granted Caceis Bank authorization to provide a wide range of crypto-asset services. This authorization, given under the European Union's (EU) Markets in Crypto Assets (MiCA) regulation, marks a significant step in the bank's mission to integrate traditional financial instruments and crypto-assets within the same client portfolio.
Caceis Bank, a subsidiary of Crédit Agricole and Santander, is now authorized to offer services such as the custody and administration of crypto assets, the reception and transmission of orders (RTO) related to crypto assets, and the transfer of crypto assets. These services will be provided on behalf of third parties, further strengthening Caceis' position as a trusted third party in the transformation of financial markets.
Laurent Majchrzak, group head of digital assets at Caceis, commented on the MiCA authorization, stating that it enhances Caceis' value proposition by allowing clients to invest in both traditional financial instruments and crypto-assets within the same portfolio. This authorization also grants Caceis an EU-wide passport, enabling it to provide these crypto-asset services across all EU member states.
The MiCA authorization is a reflection of the steady rise of tokenisation in asset management. It is designed to ensure investor protection and market stability within the crypto-asset sector, making it a significant regulatory framework for the EU.
In summary, Caceis is now positioned to offer custody, order management, and transfer services for crypto-assets under a unified regulatory framework across the European Union. This move is expected to bolster the bank's reputation as a trusted third party in the rapidly evolving world of digital assets.
[1] https://www.caceis.com/ [2] https://www.credit-agricole.com/en/ [3] https://www.santander.com/en/personal/home.html
- The new authorization under the European Union's MiCA regulation enables Caceis Bank to expand its asset management capabilities, offering services like custody and administration of crypto assets, order management, and transfer services.
- With this authorization, Caceis Bank's asset servicing in both traditional finance and crypto-assets can be managed under a unified regulatory framework across the European Union, strengthening its position as a trusted third party in the innovative world of digital assets.
- The MiCA regulation not only aligns with the steady growth of tokenization in asset management but also aims to ensure investor protection and market stability within the crypto-asset sector, making it a crucial regulatory framework in the European Union's finance business and technology landscape.
