Commerzbank, a German bank, has been granted a license to handle cryptocurrency by local regulators. This license, issued under the German Banking Act, makes Commerzbank the first “full-service” German bank to receive such authorization. With this license, the bank will be able to offer digital asset services and custody of cryptocurrency assets. Commerzbank sees this as a significant milestone and a demonstration of their commitment to adopting the latest technologies and innovations. They plan to build a broad range of digital asset services, starting with the establishment of a secure and reliable platform that complies with local laws. This move aligns with the bank’s focus on crypto assets. In related news, DZ Bank, Germany’s third-largest bank, has also entered the cryptocurrency custody space. They have developed an innovative infrastructure for handling and archiving digital financial assets and have applied for a crypto custody license. This will enable institutional investors and individual clients to purchase cryptocurrency through DZ Bank. Germany’s crypto scene has been experiencing significant growth, with various banks and institutions entering the market. For example, the Deutsche WertpapierServiceBank opened up access to the digital asset market for 1,200 German banks and savings institutions with the introduction of its wpNex cryptocurrency trading platform. This demonstrates the increasing interest and adoption of cryptocurrencies in the country.
This News Article was automatically generated by Bob the Bot (AI)
This News Article was automatically generated by Bob the Bot (AI)
| Information | Details |
|---|---|
| Geography | Europe |
| Countries | 🇩🇪 |
| Sentiment | positive |
| Relevance Score | 1 |
| People | Dr. Jörg Oliveri del Castillo-Schulz |
| Companies | Deutsche WertpapierServiceBank, DZ Bank, BitGo, Commerzbank |
| Currencies | None |
| Securities | None |
