CACEIS Bank, the French banking entity of the CACEIS group, has achieved a major milestone by obtaining PSAN status from the AMF, following the recommendation of the ACPR.
PSAN stands for "Prestataire de services sur actifs numériques," which translates to "Digital Asset Service Provider." PSAN status is a regulatory requirement for companies that provide services related to digital assets, such as custody, trading, and issuance.
CACEIS Bank's PSAN status is a significant achievement, as it demonstrates the company's commitment to compliance with French regulations. It also opens up new opportunities for CACEIS Bank to provide services to the growing digital asset market.
In a statement, CACEIS Bank said that the PSAN status "is a major milestone in our journey to become a leading provider of digital asset services in Europe." The company said that it plans to use the PSAN status to "expand our offering to clients and to support the development of the digital asset ecosystem."
The AMF and the ACPR are the French financial markets regulator and the prudential control and resolution authority, respectively. Their approval of CACEIS Bank's PSAN application is a sign of confidence in the company's ability to provide secure and compliant services related to digital assets.
CACEIS Bank's PSAN status is a positive development for the French digital asset market. It provides a regulatory framework for companies that provide services related to digital assets, and it opens up new opportunities for the market to grow and develop.
