European traditional banks are deploying on-chain finance: ABN AMRO obtains MiCAR license, and the first blockchain derivative transaction is implemented

【Crypto World】Dutch veteran bank ABN AMRO is making new moves in the crypto asset space. Its German subsidiary Hauck Aufhäuser Digital Custody has just received authorization under the EU’s Markets in Crypto-Assets Regulation (MiCAR), allowing it to provide crypto asset custody and trading services to institutional clients under a unified regulatory framework. It will also gradually expand to other EU countries.

After MiCAR officially comes into effect on December 30, 2024, ABN AMRO becomes one of the first traditional financial institutions to obtain this license. This is not only a compliance breakthrough but also a significant step in opening the European financial system to digital assets.

More interestingly, ABN AMRO recently completed its first cross-border over-the-counter “Smart Derivative Contract” (SDC) transaction with DZ BANK. The entire 10-day cycle was run on blockchain technology, with settlement, valuation, and collateral management all automatically handled on-chain. The payment was settled via SEPA instant transfer, and data was directly fed back to the smart contract—this process reduced operational complexity for OTC derivatives trading and tightly controlled counterparty risk.

ABN AMRO also emphasized that their key to advancing digital assets and financial innovation in Europe is twofold: one, regulatory compliance must be in place; two, on-chain financial infrastructure must keep pace. The approach is clear—it’s not about skirting the rules but about innovating within the regulatory framework. Traditional financial institutions are really starting to take this seriously.