Societe Generale launches custodial services for crypto fund managers

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Accord­ing to a new press release on Wednes­day, Société Générale, one of the largest invest­ment banks in Europe, said that it would be expand­ing its cryp­tocur­ren­cy asset man­age­ment ser­vices through its Secu­ri­ty Ser­vices sub­sidiary. Clients who are dig­i­tal asset fund man­agers can now elect to have Société Générale as their fund cus­to­di­an, val­u­a­tor and lia­bil­i­ty man­ag­er. The tools are designed to facil­i­tate the addi­tion of cryp­tocur­ren­cies into insti­tu­tion­al investors’ portfolios. 

The fir­m’s most recent client is Arquant Cap­i­tal SAS, a licensed asset man­age­ment com­pa­ny in France with two euro-denom­i­nat­ed dig­i­tal asset prod­ucts con­sist­ing of Bit­coin (BTC), Ether (ETH) and oth­er deriv­a­tives. David Abit­bol, direc­tor of Soci­ete Gen­erale Secu­ri­ties Ser­vices, commented:

“By com­bin­ing Soci­ete Gen­erale’s inno­va­tion exper­tise with Arquant Cap­i­tal’s tech­ni­cal skills, we are expand­ing SGSS’ abil­i­ty to meet the diver­si­fi­ca­tion needs of asset managers.”

Mean­while, Eron Angjele, CEO of Arquant Cap­i­tal, wrote:

“This solu­tion pro­vides Arquant Cap­i­tal with an inno­v­a­tive struc­tur­ing that allows us to scale our offer­ing and focus on cre­at­ing val­ue for our clients.”

Société Générale Secu­ri­ty Ser­vices is ranked among the three largest Euro­pean cus­to­di­ans and the top 10 world­wide. It has over $4.277 tril­lion worth of assets under cus­tody, pro­vid­ing trustee ser­vices for 3,312 funds and val­u­a­tion ser­vices for 4,426 funds. It also has 22 loca­tions world­wide with over 4,000 staff.

In the past, Société Générale has issued euro bonds on the Ethereum blockchain as well as pro­posed DAI sta­ble­coin loans in exchange for bond tokens. The firm also has a secu­ri­ty token on the Tezos blockchain. It is one of the finan­cial behe­moths that is cur­rent­ly part­ner­ing with the Euro­pean Cen­tral Bank to devel­op a dig­i­tal euro

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