Major European custody and asset-servicing bank CACEIS is working on offering cryptocurrency custody services, Coindesk reported on Tuesday.
CACEIS is a megabank owned by Crédit Agricole, a French financial institution, and Banco Santander, a major Spanish bank. According to its website, the asset servicing bank offers execution, clearing, custody, depositary, and fund administration services. It currently has over €4.2 trillion ($4.96 trillion) assets under management.
According to sources, CACEIS is working with Swiss cryptocurrency custody company Metaco. One of the sources told Coindesk:
“They [CACEIS] are looking for something which is quite integrated. They are not looking for something which is just addressing the custody piece, but something that is comprehensive and addressing various needs.”
The bank is headquartered in Paris with dominance in Europe, especially Germany. Crédit Agricole and Banco Santander merged the two banks’ custody and asset-servicing operations back in 2019 to launch CACEIS. 69.5 of CACEIS is owned by Crédit Agricole and 30.5% owned by Banco Santander.