France-based Caceis is the latest asset servicing firm to announce plans for the development of its custody service for digital assets.
The custodian, which operates as the asset servicing arm of Credit Agricole and Santander’s banking group, has chosen Swiss-based Taurus to enhance its digital assets offerings. Caceis will integrate its services and systems with the Taurus platform, focusing on three key areas: secure custody of digital assets and smart contract management, digital asset issuance and tokenization using blockchain, and connectivity with other blockchains through Taurus.
Arnaud Misset, Chief Digital Officer of Caceis, noted, “In addition to our traditional asset servicing, Caceis aims to gradually extend its offering to all digital assets and provide support for clients on blockchains. Taurus is a recognized expert in the field, and the integration of its platform marks a significant step in Caceis’ innovation strategy.”
Other asset servicing firms are also planning to enhance their digital offerings in response to the growing use of digital and crypto assets. Recently, Citi announced a partnership with Swiss digital assets platform Metaco to develop its crypto custody service, while firms like State Street and Commerzbank have launched their own digital or crypto custody solutions in recent months.