ABN AMRO, a Dutch bank, received MiCAR approval and launched blockchain-based derivatives.

ABN AMRO has achieved a significant breakthrough in the digital asset space. Its German subsidiary, Hauck Aufhäuser Digital Custody, has received authorization under the EU's Crypto Asset Markets Regulation (MiCAR), becoming one of the first financial institutions to receive this authorization.

This allows it to provide crypto asset custody and trading services to institutional clients within a unified EU regulatory framework.

MiCAR officially came into effect on December 30, 2024. With the approval of the German financial regulator BaFin, the subsidiary can now custody and manage crypto assets for clients and plans to gradually expand these services to other EU member states using a "passport" model. This is a key part of ABN AMRO's European digital asset strategy.

Simultaneously, ABN AMRO successfully completed its first cross-border OTC smart derivatives contract transaction with DZ BANK.

This blockchain-based transaction lasted 10 days, with settlement, valuation, and collateral management all executed automatically on-chain. Daily cash payments were completed instantly via SEPA and transmitted back to the smart contract, significantly improving transaction transparency and operational efficiency.

ABN AMRO stated that smart derivatives contracts, by pre-setting market data and interest rate curves, effectively reduce collateral disputes and settlement complexities commonly found in traditional OTC derivatives trading.

DZ BANK believes that this collaboration provides an industry-level model for the comprehensive digital settlement of OTC derivatives, and is expected to significantly reduce counterparty risk. (Source: BLOCKBEATS)