By Mark Ackman
Societe Generale has made a new announcement about its expansion of cryptocurrency asset management services.
Societe Generale Expands Crypto Exposure
On Wednesday, Societe Generale announced that it is in the process of expanding its services in the cryptocurrency asset management segment.
Societe Generale, which is ranked among the largest European investment banks has announced that it will be achieving its new goal via its subsidiary. As per the officials, it will be making it happen using its Security Services subsidiary.
A New Fund Custodian
According to the officials, the digital asset fund managers will have the ability to elect Societe Generale to provide them with multiple services. These services that Societe Generale can offer the fund managers include liability management, valuation, and fund custodianship.
With the help of the new tool, the digital assets fund managers would be able to offer institutional investors access to cryptocurrencies.
This would be the best source for institutional investors to increase their cryptocurrency portfolio.
Latest Client of Societe Generale
The latest client Societe Generale has formed an agreement with is Arquant Capital SAS. It is a major asset management company that is operating in France as a licensed entity.
The digital asset products offered by Arquant Capital SAS are two euro-denominated. These products are Ether (ETH) and Bitcoin (BTC). In addition to the ETH and BTC products paired with the euro, the firm is also offering derivatives.
Comments by Societe Generale’s Director
The Societe Generale’s director, David Abitbol also talked about the company’s latest achievement. He stated that they have recently combined their skills with the technical skills of Arquant Capital.
Together, they will be able to offer so much diversification and advanced products to the asset managers that they needed for a long time.
Arquant Capital also acknowledged its latest partnership with Societe Generale. The company executives were excited to reveal that they will be able to increase their focus on offering multiple assets to their clients.
They will also be able to create a great amount of value for their clients.
Societe Generale
Societe Generale ranks as one of the top three custodians in Europe. On a global scale, Societe Generale is among the top 10 (largest) security services providers.
As of now, the total assets under Societe Generale’s custody are worth $4.277 trillion. As of now, 4,426 funds are under the valuation services segment of the company while 3,312 funds are under the trustee services segment.
The company has successfully expanded itself to more than 22 locations all over the world. The company has added thousands of employees to its empire and it has more than 4,000 employees working on multiple projects.