Germany’s Commerzbank has become the latest European bank to gain a crypto custody license from the country’s financial watchdog, BaFIN. The license allows them to securely store crypto-assets on behalf of clients.
Deutsche Bank, Germany’s largest lender, has announced plans to offer cryptocurrency custody services to institutional investors. The bank plans to set up a “digital asset custodial platform” worth €1.3 trillion.
Deutsche Bank is preparing to enter the cryptocurrency market, unveiling plans to explore crypto custody and tokenization solutions. The bank has entered a partnership with Swiss startup Taurus to launch a platform to use digital assets as collateral in lending operations.