Santander Credit Agricole Asset Arm Receives French Crypto Custody License
Santander Credit Agricole Asset Management (SCAAM) has been granted a license by the French financial regulator, the Autorité des Marchés Financiers (AMF), to provide crypto custody services in France.
The license allows SCAAM to provide custodial services for digital assets, including cryptocurrencies, to its institutional clients. The license also allows the firm to provide services such as portfolio management, trading, and investment advice for digital assets.
SCAAM is a joint venture between Santander Asset Management and Credit Agricole Asset Management, and is the first asset manager in France to receive a license to provide crypto custody services. The company has been working with the AMF since 2019 to obtain the license.
The license is a major milestone for the company and a sign of the increasing acceptance of cryptocurrencies by traditional financial institutions. It is also a sign that the French government is taking steps to regulate the cryptocurrency industry.
Benefits of Crypto Custody License
The license granted to Santander, Crédit Agricole Asset Management (SCAAM) enables them to provide crypto custody services to institutional investors, allowing them to securely store and manage their digital assets.
The license also allows SCAAM to offer its clients access to a range of services, including trading, asset management, and asset custody.
This provides institutional investors with a secure and reliable way to store their digital assets, while allowing them to take advantage of the potential opportunities offered by the cryptocurrency market.
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