CACEIS, Crédit Agricole’s European depository and transfer agent, has signed an investment agreement intended to develop a post-market Blockchain infrastructure for the SME (small and medium-sized enterprises) segment in Europe.
Launched in June 2016, the objective of this partnership is to improve the access of such companies to capital markets, while facilitating and enhancing the security of post-market operations. It was launched in anticipation of a new regulatory framework in France providing for the issue and distribution of financial securities using Blockchain technology.
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This initiative brings together eight major financial institutions: CACEIS, BNP Paribas Securities Services, Caisse des Dépôts et Consignations, Euroclear, Euronext, S2iEM and Société Générale, with the support of Paris Europlace.
Jean-François Abadie, CEO of CACEIS, remarked: “We are very pleased to participate in this collective innovation process. This promising project combines a wide range of experience and expertise that is appropriate to its ambition to help drive the process of transforming the post-market environment. This is fully in line with the CACEIS strategy of prioritising the development of innovative solutions for its clients.”
Back in March, the regulated European bitcoin exchange Bitstamp announced a service which enables fund promoters to accept bitcoin capital inflows from retail and corporate clients into their investment funds via a partnership with CACEIS. Fund promoters working with CACEIS as their transfer agent will be eligible to process fund subscriptions and redemptions in bitcoin when the service goes live in the second quarter of 2017.