Societe Generale Introduces Services for Asset Managers Developing Crypto Funds

Societe Generale 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 according to a story in Coin Desk news. 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. 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 (BTC), ether (ETH) 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.