Commerzbank AG – the fourth largest bank in Germany – has received its Crypto Custody License after unveiling plans to break into digital asset safekeeping almost two years ago.
This makes Commerzbank the first full-service bank in Germany to receive the license.
Commerzbank Enters Crypto Custody
Per a press release on Wednesday, the bank’s new license opens it to launching a “broad range” of new digital asset services, especially pertaining to crypto assets.
Its first goal will be to establish a reliable, regulatory-compliant platform for its institutional clients to manage their crypto.
According to the bank’s Chief Operating Officer, Dr Jörg Oliveri del Castillo-Schulz, securing the license marks an “important milestone” for its entry into the industry.
“This highlights our ongoing commitment to applying the latest technologies and innovations, and it forms the foundation for supporting our customers in the areas of digital assets,” he said in a statement.
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