TBW - EXCLUSIVE: EDF Group launches crypto custody service
EDF's entry into the crypto-asset ecosystem takes another step forward.
Its subsidiary Exaion, which specialises in blockchain infrastructure, is to launch a cryptocurrency custody service aimed at financial institutions and, first and foremost, banks. A move that could strengthen France's position in the sector while meeting a growing demand for sovereign and secure solutions.
Already registered as a PSAN (Service Provider for Digital Assets) with the Autorité des marchés financiers (AMF), Exaion had quietly obtained enhanced registration last December.
This status allows it to operate both exchange and custody services for digital assets. However, it is only now that the EDF subsidiary is making its ambition official: to offer institutions a high-security digital safe, as announced by its CEO Fatih Balyeli in an interview with The Big Whale.
"The idea is to support the major financial players in their crypto activities by offering them a sovereign and secure infrastructure," he explains.
This custody service, scheduled for the second half of 2025, will also be accompanied by staking and exchange solutions between cryptocurrencies and traditional currencies.
The arrival in 2024 of Bitcoin and Ethereum ETFs in the United States marked a turning point for the crypto ecosystem, attracting financial heavyweights including BlackRock, which is preparing to launch an equivalent in Europe.
For these institutions, the issue of digital asset custody is becoming central. The target is clear: banks, investment funds and leading intermediaries. "We are targeting large institutions that cannot afford to work with unregulated start-ups," emphasises Fatih Balyeli.
Giants such as BlackRock or JP Morgan could thus be among Exaion's future customers.
>> The Big Whale report: All about the future of wallets and crypto custody
The European sovereignty card
In a market largely dominated by foreign players, both among custody technology providers such as Israeli-American Fireblocks, and custodians as such such as American Coinbase, Exaion is playing the European sovereignty card.
His custodian solution is based on an HSM (Hardware Security Module) infrastructure developed 100% in-house, according to our information.
This positioning enables Exaion to appeal to customers looking for a sovereign solution, particularly in France and Europe, where regulations around digital assets are stricter and customers are reluctant to use foreign services.
Exaion's membership of the EDF group represents a guarantee of confidence for investors. In addition to PSAN certifications, Exaion is aiming for high cybersecurity standards, in particular ISO 27001 and SOC 2.
The backing of EDF also offers a strategic advantage: decarbonised energy and privileged access to critical infrastructures. "EDF's ability to supply stable, clean electricity is a major asset for the growth of data centres and the digital services of tomorrow. We are helping to make France an essential technology hub," adds Fatih Balyeli.
Exaion is not new to the crypto sector: as we revealed, the French giant, which still refuses to mine bitcoin for "environmental" reasons that some dispute, has been operating nodes for several major blockchains, such as Ethereum.
