Societe Generale, Europe’s largest investment bank, announced Wednesday that it would expand its crypto asset management services through its Security Services subsidiary. Societe Generale can now be chosen as the fund custodian and valuator by clients who manage digital asset funds. These tools allow institutional investors to add cryptocurrencies to their portfolios.
Arquant Capital SAS is the firm’s latest client. It is a licensed asset manager company in France that has two euro-denominated digital assets products. These include Bitcoin ( TTC), Ether( ETH), and other derivatives. David Abitbol is the director of Societe Generale Securities Services.
“By combining Societe Generale’s innovation expertise and Arquant Capital’s technical skills, we expand SGSS’ ability for asset managers to diversify.”
Eron Angjele (CEO of Arquant Capital) wrote:
“This solution gives Arquant Capital an innovative structuring that allows them to scale their offering and concentrate on creating value for clients.”
Societe Generale Security Services ranks among the top 10 global custodians worldwide and three of the largest European custodians. It holds assets worth more than $4.277 trillion and provides trustee services to 3,312 funds as well as valuation services to 4,426 funds. It has over 4,000 employees and 22 locations around the world.
Societe Generale had previously issued euro bonds on Ethereum blockchain and offered DAI stablecoin loan in return for bond tokens. A security token is also available on the Tezos Blockchain. It is one of many financial giants currently partnering with European Central Bank to create a digital euro.