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.

RFK Jr. Says He's 'Fully Committed' to Bitcoin; Jersey City to Invest in Bitcoin ETFs

00:57

What Do EigenLayer's Outflows of $2.3B Signal?

04:20

What Do TradFi Crypto Moves Mean for Decentralization?

02:02

Marathon Digital Buys $100M BTC; India's Special Task Force for Crypto-Related Drug Trafficking

00:53

Ether Slides as Grayscale's ETHE Outflows Ramp Up

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.

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.

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

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.

RFK Jr. Says He's 'Fully Committed' to Bitcoin; Jersey City to Invest in Bitcoin ETFs