Dutch Bank ABN AMRO Receives MiCAR Approval and Launches Blockchain-Based Derivatives.
Dutch lender ABN AMRO scored a key win in the digital asset sector. Its German subsidiary Hauck Aufhäuser Digital Custody has been authorized under the EU’s Markets in Crypto-Assets Regulation (MiCAR), making it one of the first approved firms to offer crypto asset custody and trading services to institutional clients under the bloc’s unified regulatory framework.
MiCAR took effect on December 30, 2024. Approved by Germany’s financial watchdog BaFin, the subsidiary can now custody and manage crypto assets for clients. As part of ABN AMRO’s European digital asset strategy, it plans to roll out these services to other EU member states gradually via the bloc’s passporting scheme.
Separately, ABN AMRO and DZ BANK completed the first cross border over the counter (OTC) Smart Derivative Contract (SDC) trade. Powered by blockchain, the 10day trade automated settlement, valuation, and collateral management on-chain. Daily cash payments were processed via SEPA, with feedback fed back to the smart contract boosting transparency and operational efficiency significantly.
ABN AMRO noted the SDC using preset market data and interest rate curves cuts down on collateral disputes and settlement complexities typical of traditional OTC derivative trades. DZ BANK, meanwhile, called the trade an industry paradigm for full digital settlement of OTC derivatives, noting it would significantly reduce counterparty risk.#TrendingTopic #Eu #TRUMP #usa #usa $BTC
