This week CACEIS received its digital asset custody license from French regulator Autorité des marchés financiers (AMF), as first reported by Coindesk. CACEIS is the security services firm jointly owned by Credit Agricole and Santander with €4.6 trillion ($5 trillion) in assets under custody. It is the French subsidiary CACEIS Bank that received the license.
While the some news outlets hailed this as yet another institution diving into crypto, that’s not the only driver in this case. There’s no doubt that institutions have been increasingly interested in the crypto sector for some time. This week’s evidence is the Bitcoin ETF application by BlackRock and the launch of the EDX Markets crypto exchange by Citadel Securities, Schwab and Fidelity.
However, for CACEIS there was an event parallel to the crypto world that demanded a license. CACEIS was one of the custodians alongside SEB for a blockchain-based green bond issued by the European Investment Bank (EIB). The license award and the bond announcement both happened on Tuesday.
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