Santander Crdit Agricole asset arm receives French crypto custody license
1. Cryptocurrency custody licenses granted by French regulators to major banks Santander and Credit Agricole Asset Management have both received cryptocurrency custody licenses from the French financial regulator,Autorité des Marchés Financiers (AMF). This development means that the Spanish and French banks are now authorized to offer custody services to customers holding digital assets. Santander is reportedly already planning to launch the services in Spain,Portugal,and South America. Meanwhile,Credit Agricole will only provide custody services to institutional investors.
2. The popularity of cryptocurrency custody solutions This news comes as more banks and financial institutions are entering the cryptocurrency custody space. Many retail and institutional investors are increasingly looking to invest in digital assets,and greater security is key to greater adoption. Custody services work by holding an investor’s digital assets in secure storage on their behalf. This also enables institutional investors to comply with regulations around safekeeping and mitigating risks relating to financial crime.
3. The regulatory landscape surrounding cryptocurrency custody Cryptocurrency custody is regulated by financial authorities around the world,with different regulatory frameworks emerging from different countries. France has been very active in this field,with the AMF issuing its first-ever official license for digital asset custody to Ledger Vault in January 2020. The United States also has strict regulation surrounding custody services,while Asian countries such as Japan and Hong Kong are taking a more pro-crypto approach. With cryptocurrency adoption on the rise,the regulatory landscape around digital asset custody is likely to become a key focus for financial regulators in the coming years.
source https://titdoi.com/news/Santander-Crdit-Agricole-asset-arm-receives-French-crypto-custody-license
2. The popularity of cryptocurrency custody solutions This news comes as more banks and financial institutions are entering the cryptocurrency custody space. Many retail and institutional investors are increasingly looking to invest in digital assets,and greater security is key to greater adoption. Custody services work by holding an investor’s digital assets in secure storage on their behalf. This also enables institutional investors to comply with regulations around safekeeping and mitigating risks relating to financial crime.
3. The regulatory landscape surrounding cryptocurrency custody Cryptocurrency custody is regulated by financial authorities around the world,with different regulatory frameworks emerging from different countries. France has been very active in this field,with the AMF issuing its first-ever official license for digital asset custody to Ledger Vault in January 2020. The United States also has strict regulation surrounding custody services,while Asian countries such as Japan and Hong Kong are taking a more pro-crypto approach. With cryptocurrency adoption on the rise,the regulatory landscape around digital asset custody is likely to become a key focus for financial regulators in the coming years.
source https://titdoi.com/news/Santander-Crdit-Agricole-asset-arm-receives-French-crypto-custody-license
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