Societe Generale launches custodial services for crypto fund managers
According to a new press release on Wednesday, Societe Generale, one of Europe’s largest investment banks, said it would expand Provides cryptocurrency asset management services through its security services subsidiary. Clients who are digital asset fund managers can now choose to have Societe Generale as their fund custodian, valuer and liability manager. These tools are designed to facilitate the addition of cryptocurrencies to institutional investors’ portfolios.
The firm’s most recent client is Arquant Capital SAS, a French-licensed asset manager with two euro-denominated digital asset products, including bitcoin (BTC), ether (ETH) and other derivatives. David Abitbol, Director of Societe Generale Securities Services commented:
“By combining Societe Generale’s innovative expertise with Arquant Capital’s technical skills, we are expanding SGSS’s ability to meet the diverse needs of asset managers.”
Meanwhile, Arquant Capital CEO Eron Angjele wrote:
“This solution provides Arquant Capital with an innovative structure that allows us to expand our offering and focus on creating value for our clients.”
Société Générale Security Services is ranked among the top three custodians in Europe and the top 10 worldwide. Assets under custody exceeded US$4.277 trillion, custodial services were provided for 3,312 funds, and valuation services were provided for 4,426 funds. It also has 22 locations worldwide and employs more than 4,000 people.
In the past, Societe Generale Issuing Eurobonds on the Ethereum blockchain and Offer a DAI stablecoin loan in exchange for bond tokens.The company also has a Security tokens on the Tezos blockchain.It is one of the financial giants currently working with the European Central Bank Develop a digital euro.