PARIS - CACEIS, the asset servicing business owned by Credit Agricole and Santander , has registered with France's markets regulator AMF to provide custody services for digital assets, such as cryptocurrencies.
The company registered as a digital asset service provider (DASP) on June 20, according AMF's website, adding a major traditional financial services group to the growing number of crypto companies registered by the French watchdog.
France has been supportive of the nascent industry and was the first major European country to grant registration to the world's biggest cryptocurrency exchange, Binance.
Subsidiaries of other big names in French finance, such as Societe Generale and AXA, are also listed among the DASPs registered with AMF.
CACEIS had 4.1 trillion euros ($4.51 trillion) in assets under custody at end of last year, according to its website. Credit Agricole SA is its majority owner with a 69.5% stake, while Santander holds a 30.5% of the group.
($1 = 0.9085 euros)
(Reporting by Mathieu Rosemain. Editing by Jane Merriman)