Société Génerale launches new service for those who want to have cryptos in wallets

Société Génerale Securities Services (SGSS) is responding to increased demand from investors who want to incorporate cryptos into their wallets. The French bank has announced the launch of services for asset management companies looking to launch cryptocurrency funds.

More and more investors are looking to integrate cryptos into their wallets. Société Génerale Bank’s securities services division, SGSS, is now offering services to asset managers developing professional fund ranges based on digital assets like Bitcoin.

Société Générale, founded in the 19th century, is one of France’s leading banks and one of Europe’s leading financial services groups. The bank was created in 1864, at the height of the industrial revolution, to meet the growing needs of steel companies and railroads. In the 1990s and 2000s, the group was structured around three divisions: retail banking, asset management and corporate and investment banking.

Société Génerale has just been adopted by Arquant Capital SAS

SGSS is a business line of the Société Générale Group whose main vocation is to preserve the financial assets of its clients (institutions, banks, brokers, individuals, etc.).

The new service offered by SGSS has just been adopted by Arquant Capital SAS. The asset management company, licensed by the French Financial Markets Authority (AMF) and labeled “Finance Innovation,” is opening a range of specialized, actively managed professional funds under French law invested in cryptocurrencies.

The first two products in the range in euros are based on Bitcoin, Ether and derivatives.

“By combining SGSS’ innovation expertise with Arquant Capital’s technical skills, we are expanding our ability to meet the diversification needs of asset managers,” said David Abitbol, head of Societe Generale Securities Services.

In concrete terms, SGSS supports management companies by taking on the role of fund custodian, valuator and liability manager.

This solution provides Arquant Capital with an innovative structuring that allows us to scale our offering quickly and focus on creating value for our clients,” said Eron Angjele, the head of Arquant Capital.

Société Génerale has been exploring the potential of digital assets and blockchain with its subsidiary SG Forge for several years now. This summer, the latter partnered with crypto-custody specialist Metaco to orchestrate its operations in this area.