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Source: Сointеlеgrаph

According to a new press release published on Wednesday, Société Générale, one of the largest investment banks in Europe, said it will expand its cryptocurrency asset management services through its subsidiary Security Services. Clients managing digital asset funds can now choose Société Générale as their fund’s custodian, appraiser and liability manager. The tools are designed to facilitate the addition of cryptocurrencies to the portfolios of institutional investors.

The firm’s latest client is Arquant Capital SAS, a licensed asset management company in France offering two euro-denominated digital asset products consisting of bitcoin (BTC), ether (ETH) and other derivatives. David Abitbol, ​​director of Societe Generale Securities Services commented:

“By combining the innovative expertise of Societe Generale with the technical skills of Arquant Capital, we are expanding SGSS to meet the diversification needs of asset managers.”

Meanwhile, Eron Angele, CEO of Arquant Capital, wrote:

“This solution provides Arquant Capital with an innovative framework that allows us to scale our offering and focus on creating value for our clients.”

Société Générale Security Services is one of the three largest European custodians and one of the top ten in the world. It holds over $4.277 trillion in assets and provides trust management services for 3,312 funds and valuation services for 4,426 funds. It also has 22 offices worldwide with over 4,000 employees.

In the past, Société Générale has issued Eurobonds on the Ethereum blockchain and also offered loans in DAI stablecoins in exchange for bond tokens. The firm also has a security token on the Tezos blockchain. It is one of the financial giants currently partnering with the European Central Bank to develop a digital euro.

Source: Сointеlеgrаph

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