German banking giant Commerzbank has become the first full-service bank in Germany to receive a crypto custody license under the German Banking Act. This license allows Commerzbank to offer custody services for crypto assets and develop further digital asset services. The bank’s COO, Dr. Jörg Oliveri del Castillo-Schulz, sees this as a significant milestone and a demonstration of the bank’s commitment to adopting the latest technologies. Commerzbank’s initial focus will be on creating a secure and compliant platform for providing crypto custody services to institutional clients using blockchain technology. Meanwhile, DZ Bank, the second largest bank in Germany, has also entered the crypto space by offering a digital custody platform to its institutional investors. DZ Bank has applied for a specific crypto custody license from the Federal Financial Supervisory Authority and is working on an offer that would allow private customers to invest directly in cryptocurrencies. These moves by Commerzbank and DZ Bank reflect the growing interest in crypto among traditional financial institutions in Germany.

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Information	Details
Geography	Europe
Countries	🇩🇪
Sentiment	positive
Relevance Score	1
People	Dr. Jörg Oliveri del Castillo-Schulz
Companies	Commerzbank, DZ Bank, Bankhaus Metzler, Union Investment, Siemens
Currencies	None
Securities	None, Siemens