The Commerzbank, Germany’s fourth-largest bank, has been granted a license by the Federal Financial Supervisory Authority (BaFin) to custody crypto assets. This makes Commerzbank the first universal bank in Germany to receive such a license. The license allows the bank to custody cryptocurrencies like Bitcoin and Ether, as well as tokenized securities issued on the blockchain. With this license, Commerzbank aims to provide a secure and compliant platform for institutional clients to store their crypto assets. The bank has not provided details about its plans for retail customers or the specific services it will offer. However, it is worth noting that other major German banks, such as Deutsche Bank and DZ Bank, have also applied for a crypto custody license from BaFin. The DZ Bank plans to offer a comprehensive crypto offering by the end of 2023, while Deutsche Bank submitted its application in mid-June.
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 | Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin), Deutsche Bank, Commerzbank, Taurus, DZ Bank |
| Currencies | Ethereum, Bitcoin |
| Securities | None |
