June 9, 2023

Societe Generale, one of Europe’s largest investment banks, said it would, according to a new press release Wednesday expand Cryptocurrency asset management services through its Security Services subsidiary. Clients who are digital asset fund managers can now choose Société Générale as their fund custodian, valuator and liability manager. The tools are designed to facilitate the addition of cryptocurrencies to institutional investors’ portfolios.

The firm’s most recent client is Arquant Capital SAS, a licensed asset management company in France with two euro-denominated digital asset products consisting of Bitcoin (BTC), Ether (ETH) and other derivatives. David Abitable, director of Societe Generale Securities Services, commented:

“By combining Societe Generale’s innovation expertise with Arquant Capital’s technological expertise, we are expanding SGSS’s capabilities to meet the diverse needs of asset managers.”

Meanwhile, Arquant Capital CEO Aaron Angel wrote:

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

Société Générale Security Services is ranked among the three largest European custodians and among the top 10 worldwide. It has $4.277 trillion worth of assets under custody, provides trustee services for 3,312 funds and valuation services for 4,426 funds. It has 22 locations worldwide with 4,000 employees.

In the past, Société Générale has Eurobonds issued on the Ethereum blockchain Proposed DAI stablecoin debt in exchange for bond tokens. The firm is also a Tezos is a security token on the blockchain. It is one of the financial behemoths currently partnering with the European Central Bank Develop a digital euro.