French Bank Societe Generale is launching crypto fund services after increased demand from investors, according to a Wednesday statement. More investors and companies look to crypto and other digital assets. In response, SGSS Bank looks to fulfill these new needs.
“SGSS now offers asset managers to act as a fund custodian, valuator, and liability manager,” the bank says. “The services offered by SGSS allow asset management companies to enhance their offer in a simple and adapted manner, within the European regulatory framework.”
The new bank service has already by Arquant Capital SAS, a French asset management company. Additionally, the company is licensed by the French Financial Markets Authority (AMF). The service is under the label “Finance Innovation,” according to Societe Generale. Firstly, the two products of the opening range in euros are mainly based on Bitcoin, Ether, and derivatives.
“By combining Societe Generale’s innovation expertise with Arquant Capital’s technical skills, we are expanding SGSS’ ability to meet the diversification needs of asset managers.” David Abitbol, Director of Societe Generale Securities Services said this in response to the announcement.
“This solution provides Arquant Capital with an innovative structuring that allows us to scale our offering and focus on creating value for our clients,” adds Eron Angjele, CEO of Arquant Capital.