The company have set up to make progress towards the testing of a digital euro along with the Central Bank of Europe.
Societe Generale Dispatches Protective Services
In consonance with the latest announcement made by the press on Wednesday, Societe Generale, which is classified among the finest and the largest investment banks in Europe, stated in future it will be working vigorously on expanding its management of cryptocurrency assets with the help of its Security Services subordinates. Customers who manage assets and funds digitally can now select to have financial company services as their fund valuator, custodian and liability manager. The instruments are intended to work with the expansion of cryptocurrencies to the arrangement of institutional financial backers.
The most recent and fresh customer is Arquant Capital SAS, a company which manages assets based in France it manages two denominated digital currencies and products consisting of Ether (ETH), Bitcoin (BTC) and other alternatives. David Abitbol, director of financial Securities Services company, stated that:
By combining Societe Generale’s innovation expertise with Arquant Capital’s technical skills, we are expanding SGSS’ ability to meet the diversification needs of asset managers.
Whereas, Eron Angjele, CEO of Arquant Capital, noted:
This solution provides Arquant Capital with an innovative structuring that allows us to scale our offering and focus on creating value for our clients.
The rank of Société Générale list among the three finest and the greatest European custodians and guardians they are ranked among the top 10 in the whole world. There are more than $4.277 trillion of assets in value under protection, providing services as a custodian for approximately 3,312 funds and valuation services for more than 4,426 funds. It also has 22 working locations worldwide with more than 4,000 staff members.
In the past few years, financial company has issued assets in euro bonds of equal values on the Ethereum blog chain as well as gave a proposal to provide stable coin loans called DAI in trade for the bond tokens. The company has also introduced a token on the Tezos blockchain for security. It is one of the grandeur creatures of the financial market that is currently working on developing a partnership with the European Central Bank to develop a digital euro currency.