Netherlands-based bank ABN Amro says its German subsidiary Hauck Aufhäuser Digital Custody (HADC) has secured a markets in crypto assets (MiCA) licence from Germany’s financial regulator BaFin.
HADC is a German crypto custodian acquired by ABN Amro as part of the bank’s purchase of Hauck Aufhäuser Lampe (HAL) in May 2024.
With its new authorisation, HADC will now be able to offer crypto custody and transaction services to institutional clients across the EU under the MiCA regulatory framework.
ABN Amro says HADC can now “manage and safeguard crypto assets on behalf of clients and will be able to offer these services through passporting in other EU member states in the future”.
International SDC trade completion
Alongside the new licence for HADC, ABN Amro also announced it has completed its first international Smart Derivative Contract (SDC) transaction in collaboration with DZ Bank using blockchain technology.
Executing settlements and collateral management on distributed ledger technology (DLT) used by DZ Bank, the trade was live for 10 days and saw each daily payment automatically processed via SEPA and confirmed back to the smart contract.
ABN Amro says: “From initiation to termination, all steps – including valuation and collateral settlement – were processed on blockchain. This eliminates collateral disputes by utilising pre-agreed market data and interest rate curves, ensuring streamlined daily settlements.”
Source: https://www.fintechfutures.com/
