CACEIS Bank has become the inaugural custodian in France to achieve registration as a PSAN, a Digital Assets Service Provider. The AMF, acting on advice from France’s Prudential Control and Resolution Authority (ACPR), awarded this status to CACEIS Bank, which is the French banking subsidiary of the CACEIS Group.
With this PSAN registration, CACEIS Bank has the capability to furnish third parties with digital asset custody facilities, satisfying intensifying demand from institutional investors and investment management companies. This distinction marks the initial step towards the creation of pioneering digital asset custody solutions that incorporate the same level of security as conventional assets.
CACEIS’ Chief Digital Officer, Arnaud Misset, explained that their digital exchange will leverage advanced technology to provide secure storage for client’s private digital keys. CACEIS Bank is presently the sole PSAN-accredited custody specialist in France, and this status guarantees the integrity of the digital assets ecosystem within which CACEIS operates.