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SubscribeCuatrecasas advised Bison Bank on its merger with Bison Digital Assets and on its notification with the Banco de Portugal to become a cryptoasset service provider. This makes the Portuguese bank the first entity authorized to provide these services in Portugal.
Bison Bank specializes in investment banking, deposits and corporate advisory services. It has now added cryptoasset custody, exchange and advisory services to its offering. Following the notification filed with the regulator, the bank no longer needs to rely on its subsidiary, Bison Digital Assets, which has now been merged into the bank.
Cuatrecasas provided strategic structuring advice and legal counsel on preparing and reviewing the policies and procedures required for the Banco de Portugal notification. The transaction required a multidisciplinary team with experise in financial regulation, technology and cybersecurity.
The Cuatrecasas team advising Bison Bank was led by Nuno Lima da Luz and included Joana Mota Agostinho, who advised on technology and cybersecurity matters. Both lawyers are members of Cuatrecasas’s Technology and Telecommunications Practice Area. Paulo Costa Martins coordinated the financial regulation work, with the involvement of Tomás Gomes da Silva, both from the Financial Sector and Fund Formation Corporate Practice Area. Pedro Rodrigues da Silva, from Finance, was also involved.
Nuno Lima da Luz said: “This was a highly complex transaction because it is the first time that an entity—in this case, a Portuguese bank—has been authorized to act as a cryptoasset service provider in Portugal. Providing these services requires a multidisciplinary approach, given the specific features of the service, which brings together the financial and technology sectors.”
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