© Reuters.
Investing.com – Societe Generale (EPA:), the third French bank by market capitalization, has set up new services for asset managers. The latter seek to meet the increased demand for cryptocurrencies among investors.
These services will allow asset managers to offer funds in cryptocurrencies within a framework that complies with European regulations.
The service has already been adopted by French asset manager Arquant Capital SAS, which is opening a range of funds investing in crypto, starting with two products based on (BTC), (ETH) and derivatives.
The initiative of Société Générale, which had more than $1.6 trillion in assets in 2021 and which is among the largest banks in Europe, demonstrates the appetite of institutions to offer cryptocurrency-related services to their customers as demand increases.
In July, BNP Paribas (EPA:), the largest French bank, had embarked on the custody of cryptocurrencies in partnership with the Swiss digital asset custody company Metaco.