Societe Generale Has Launched Custodial Services For Crypto Fund Managers

One of the biggest investment banks in Europe, Societe Generale, said in a new press release on Wednesday that its Security Services division would be expanding its bitcoin asset management services.

Now, clients who manage funds for digital assets can choose to have Societe Generale act as the fund’s custodian, valuer, and liability manager. The instruments are made to make it easier for institutional investors to include cryptocurrencies in their portfolios.

Arquant Capital SAS, a French asset management company with a license, is the company’s most recent client. It has two digital asset solutions with euro-denominated values that include Bitcoin (BTC), Ether (ETH), and other derivatives.

Societe Generale Securities Services director David Abitbol

“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.”

Societe Generale Security Services is one of the top 10 security service providers worldwide and one of the top three European custodians. It is in charge of more than $4.277 trillion worth of assets, serving as trustee for 3,312 funds and serving as an appraiser for 4,426 funds. It also employs over 4,000 people at 22 locations across the globe.

Societe Generale has previously proposed DAI stablecoin loans in exchange for bond tokens and issued euro bonds on the Ethereum blockchain. Also on the Tezos network is a security token owned by the company. It is one of the financial titans working with the European Central Bank to create a digital euro at the moment.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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