The asset servicer is bolstering its digital strategy and meeting demands from investment management firms and investors.
CACEIS, an asset servicing provider based in Montrouge, Île-de-France, has launched its Digital Assets business line, making it the first European asset servicing group to do so, officials say.
The launch will bolster CACEIS’s digital strategy and help it meet growing demand from investment management firms and institutional investors, officials say.
“The Digital Assets business line, stemming from the ‘Digital Assets Group’ project with Crédit Agricole CIB, brings together a team of people with expertise in digital asset custody, IT infrastructure design, and related functions such as compliance, legal, and risk management,” according to the announcement.
“CACEIS is the first European asset servicing group to have a business line fully dedicated to digital assets,” says Jean-Pierre Michalowski, CEO of CACEIS, in a prepared statement.
The new business is “designed to sit alongside CACEIS’s operating model for traditional listed and unlisted financial assets. The business line will enable CACEIS to position itself as the benchmark for digital asset servicing in Europe, permitting clients to benefit from both its in-house digital expertise and the blockchain protocol within a framework that is just as secure as that provided for traditional assets,” officials say.
The new offering includes digital asset custody and encompasses issuing tokenized financial instruments to the distribution of tokenized fund shares, officials say.
“CACEIS has developed an IT infrastructure that ensures custody of all types of digital assets by integrating leading third-party platforms from Taurus, a leading digital asset infrastructure provider with solutions covering both custody and tokenization technology, and Scorechain, European leader in compliance solutions relating to blockchains,” officials say.
CACEIS last year became the first third-party custodian to obtain Digital Asset Service Provider (DASP) status with France’s financial regulator, the AMF, officials say. “The next step will be for CACEIS to obtain authorization linked to the Markets in Crypto-Assets Regulation (MiCA).”
CACEIS, the global asset servicing banking group of Crédit Agricole and Santander, offers execution, clearing, forex, securities lending, custody, depositary and fund administration, fund distribution support, middle office outsourcing, and issuer services, officials say. It offers its services to asset managers, insurance companies, pension funds, banks, private equity and real estate funds, brokers, and corporate clients, officials say.
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