A new development in the European financial landscape. The Dutch multinational bank ABN AMRO's digital custody subsidiary Hauck Aufhäuser Digital Custody has officially obtained the EU MiCAR license, marking its ability to provide crypto asset custody services to institutional clients under a unified regulatory framework. Meanwhile, ABN AMRO has also deepened cooperation with German commercial bank DZ Bank—this move indicates that traditional financial giants are increasingly emphasizing institutional-grade crypto services. Since the EU MiCAR framework came into full effect at the end of last year, it has been gradually releasing regulatory effects, attracting more licensed institutions into the crypto custody sector. Compared to the US compliance pathway, such licenses are more highly recognized, which also means more institutional clients are willing to allocate to crypto assets.