TechFlow reported on June 11, citing PR Newswire, that Spanish securities services bank Cecabank has launched a crypto asset custody service for financial institutions. The first client for the service is Renta 4 Banco, and Cecabank is working with Bit2Me to provide trade execution capabilities for the offering.
Custody infrastructure combined with execution access
According to the report, the service is built on Cecabank’s institutional-grade custody infrastructure. Bit2Me provides the execution platform, liquidity and market access. The service supports activities including buying and selling, receiving and transmitting orders, and transfers.
Cecabank said the business is already operating under a regulatory framework that complies with the European Union’s Markets in Crypto-Assets Regulation, known as MiCA. The bank is also advancing plans to expand the related services into Ireland, Portugal and Luxembourg.