European bank CACEIS, owned by Crédit Agricole and Banco Santander, is developing cryptocurrency storage solutions in partnership with Metaco, according to media reports.
CACEIS, which provides custody of $ 4.96 trillion in assets and a $ 2.6 trillion asset manager, is working with Swiss technology provider Metaco on a custodian solution for cryptocurrencies, Coindesk reports, citing sources familiar with the situation.
CACEIS declined to comment on cryptocurrency-related plans, and Metaco did not respond to requests for comment.
“They [CACEIS] are developing a fairly integrated solution, ”said one source. “They are not interested in the usual custodian solution. They want to create a comprehensive and responsive custody service. ”
Many banks are considering launching custody services for cryptocurrencies. In the summer, Philippine UnionBank announced plans to launch a cryptocurrency custody service in partnership with Hex Trust.
Last year it was revealed that Standard Chartered is developing a cryptocurrency storage solution in partnership with Metaco. In addition, in March, Metaco entered into an agreement with IBM to use the cloud platform IBM Cloud for storing cryptocurrencies.
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