ABN AMRO Bank in the Netherlands Receives MiCAR Approval and Launches Blockchain-Based Derivatives

In a breaking development, ABN AMRO Bank in the Netherlands has made significant progress in the digital asset field. Its German subsidiary, Hauck Aufhäuser Digital Custody, has been authorized under the EU's Markets in Crypto-Assets Regulation (MiCAR), becoming one of the early institutions approved 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 approval from the German financial regulatory authority BaFin, the subsidiary can now safeguard and manage crypto assets for clients and plans to gradually extend these services passporting to other EU member states as part of ABN AMRO's European digital asset strategy.

Meanwhile, ABN AMRO has also completed the first cross-border over-the-counter Smart Derivative Contract (SDC) transaction with DZ BANK. This blockchain-based transaction lasted for 10 days, with settlement, valuation, and collateral management all automatically conducted on-chain, while daily cash payments were executed through SEPA and returned to the smart contract, significantly enhancing transparency and operational efficiency.

ABN AMRO stated that the SDC, utilizing preset market data and interest rate curves, effectively reduces common collateral disputes and settlement complexities in traditional OTC derivative transactions. DZ BANK, on the other hand, believes that this transaction sets an industry standard for comprehensive digital settlement of OTC derivatives, helping to significantly reduce counterparty risk.

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