Share this article
Societe Generale Introduces Services for Asset Managers Developing Crypto Funds
The French bank is responding to increased demand from investors who want to integrate cryptocurrency into their portfolios.
Updated May 11, 2023, 6:49 p.m. Published Sep 21, 2022, 2:30 p.m.
Make us preferred on Google
Societe Generale (GLE), the third-largest French bank by market cap, has introduced new services for asset manager clients that are looking to respond to the increased demand from investors for cryptocurrencies.
The services will allow the asset managers to offer crypto funds in a "simple and adapted" way within a framework that is compliant with European regulations, the bank said Wednesday.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
The service has 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 bitcoin , ether and derivatives.
The move by Societe Generale, which had over $1.6 trillion in assets as of 2021 and is among the largest banks in Europe, demonstrates the appetite by mainstream financial institutions to offer crypto-related services to their clients as demand increases.
This has been particularly prevalent among French banking heavyweights in recent months. In July, CoinDesk reported that BNP Paribas, France's largest bank, said it was entering into crypto custody in a partnership with Swiss digital asset safekeeping firm Metaco.
Read more: Binance CEO Zhao Says EU's Proposed Crypto Rules Are Fantastic But Strict
More For You
Pudgy Penguins is building a multi-vertical consumer IP platform — combining phygital products, games, NFTs and PENGU to monetize culture at scale.
What to know:
Pudgy Penguins is emerging as one of the strongest NFT-native brands of this cycle, shifting from speculative “digital luxury goods” into a multi-vertical consumer IP platform. Its strategy is to acquire users through mainstream channels first; toys, retail partnerships and viral media, then onboard them into Web3 through games, NFTs and the PENGU token.
The ecosystem now spans phygital products (> $13M retail sales and >1M units sold), games and experiences (Pudgy Party surpassed 500k downloads in two weeks), and a widely distributed token (airdropped to 6M+ wallets). While the market is currently pricing Pudgy at a premium relative to traditional IP peers, sustained success depends on execution across retail expansion, gaming adoption and deeper token utility.
More For You
Nomura's Laser Digital applies for U.S. national trust bank to offer crypto custody
The proposed bank would offer cryptocurrency custody, spot trading and staking services under direct federal regulatory supervision.
What to know:
- Laser Digital, Nomura's digital assets arm, applied for a license to open Laser Digital National Trust Bank, seeking OCC approval to provide digital asset services for institutional clients.
- The proposed bank would offer cryptocurrency custody, spot trading and staking services under direct federal regulatory supervision.
- Laser Digital joins other crypto companies including Ripple and Circle Internet in seeking trust bank charters.
Top Stories
