Société Générale launches cryptocurrency custody service for fund managers

Société Générale will now offer a cryptocurrency fund management option to its institutional clients. This new service will be provided by its subsidiary SGSS as part of a collaboration with the company specializing in digital assets Arquant.

https://cryptoast.fr/societe-generale-lance-service-conservation-cryptomoines-gestionnaires-fonds/

Société Générale welcomes cryptocurrencies

Through its dedicated fund management subsidiary SGSS, the Societe Generale will now be able to offer a cryptocurrency custody service to management companies.

Thanks to a partnership with Arquant Capitalan independent management company authorized and regulated by the Autorité des marchés financiers (AMF) and specialized in digital assets, SGSS will now allow its institutional clients to include cryptocurrencies in their portfolio.

In addition, Société Générale will enable its clients specializing in asset management to offer funds in Bitcoin (BTC) and cryptocurrencies “in a simple and appropriate manner, within the European regulatory framework”.

David Abitbolthe director of Societe Generale Securities Services, sees in cryptocurrencies an innovative opportunity to develop the offer of the mythical bank:

“By combining the knowledgemake Societe Generale in terms of innovation and skills techniques of Arquant Capital, we are expanding the capacitySGSS to meet the diversification needs ofs fund managers. »

According to the press release, management companies are facing a growing investor interest in cryptocurrencies and are therefore forced to develop new ranges of management dedicated to digital assets.

Further proof of institutional interest in cryptocurrencies, this announcement echoing the recent launch of a crypto management fund by the Nasdaq, the second largest stock exchange in the United States.

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Source: Societe Generale Securities Services

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