Société Générale Shopping for a Crypto Custodian: Sources

Posted on by American Coins & Gold

Société Générale Shopping for a Crypto Custodian: Sources
French banking major Société Générale is looking to acquire a cryptocurrency custodian or at least take a strategic stake in one, according to three people familiar with the bank’s plans.The bank, often nicknamed “SocGen,” has also sent out a request for proposal (RFP) in search of firms that could provide safe-keeping of cryptographic keys and provide trading functionality on the bank’s behalf, the sources confirmed.SocGen may be playing catchup with the likes of BNY Mellon, BBVA and Standard Chartered as banks look to crypto custody as a gateway into the booming, $2.5 trillion sector.According to one of the sources, SocGen…