Crédit Agricole’s asset servicing business, Caceis, has obtained registration as a digital asset service provider from the French financial markets authority, AMF. This allows Caceis to offer custody services for digital assets, including cryptocurrencies. The firm currently has €4.1 trillion in assets under its custody. This move adds Caceis to the growing list of crypto companies registered by the French watchdog, which already includes subsidiaries of Societe Generale and AXA. Crédit Agricole owns a 69.5% stake in Caceis, while Santander owns 30.5%. France has been welcoming towards the crypto industry and has invited companies seeking to escape regulatory crackdowns in other countries. However, Binance, the world’s largest cryptocurrency exchange, was recently targeted in an investigation for suspected money laundering and illegal provision of services in France.
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