WOW! CACEIS Bank - Crypto Custody in France!

Bullish for crypto

With the recent announcement of Blackrock the most significant asset management in the world with over 10 trillion under its umbrella. Now we have another bullish news where a bank in France will be able to provide crypto custody!

It is not something unimaginable just a few years ago when crypto was only used by bad actors. The rhetoric of the financial players used at that time!

Now the reality and paradigm have started to shift in the best direction for the crypto space.

What does that mean by providing crypto custody

Many people are too scared to manage their provide keys alone and have the responsibility on their shoulders. Instead, they want to rely on a third party, to manage their crypto.

It is again the basic philosophy of crypto where we want the centralization removed. But the majority of people don't care and they want to invest in assets like Bitcoin and Ethereum.

Now Caceis have the license to provide this service for investors in France. This entity has over 2.3 trillion under their management, it is not a small number in the ocean.

It is only the beginning

We start to see a trend where crypto is definitely here to stay. Those big financial players want a piece of the pie!

They want to have a presence in the crypto market because the people want to expose to this asset class. They know they can make a decent amount of money with fees for providing services like custody for their clients.

As well as in the stock market to be able to invest in Bitcoin or Ethereum without the need to purchase Bitcoin. People want to invest money in this asset class without the complexity of purchasing, storing, and securing their assets.

They prefer to transfer the risk to a third party. We have seen this might bring a layer of risk that those entities can lose your crypto for whatever reason.

We have seen that with the fall of Celcius and FTX just as an example. You always have to think twice and do your due diligence before going down that path.

What I am thinking

I believe is good to have the option on the table if you don't want to deal with the complexity of crypto. Relying on a third party like a bank where you might have already some services with them.

It might be a wise option to rely on the bank for holding your crypto. To have a simple interface with all your financial products in one play.

It is convenient and you don't need to think about security! Maybe just about to have a strong password where you include a second layer of security with a biometric feature.

Conclusion

The trend is real and banks on a global scale allow custody of your crypto. A revenue stream for them and diversification. They will charge for this service, nothing is free in the world.

Caceis will start to provide this service in France. I predict more will come like a domino effect on the financial sector.

Have a great and blossom day!

It is my opinion. I am not a financial advisor, and always do you own research.