Commerzbank, one of Germany’s largest banking institutions, has confirmed that it has applied for a local crypto license in early 2022.
In an interview, one of Commerzbank’s officials told the German Banks Regulation and Supervision Agency (BaFin) earlier this year apply for a crypto license stated.
It is stated that if Commerzbank gets this license, it will be the first bank to offer crypto money service in the country.
Commerzbank’s 18 million regular and 70,000+ corporate customers exists.
According to a decision taken in Germany on January 1, 2020, a business that wants to offer crypto money services in the country is the country’s regulator. It has to get approval from BaFin.
Currently approved by BaFin There are 4 companies while specifying, More than 25 company reviews It is said to last. Coinbase’s German leg was the first business to be approved by the regulator.
According to a report published last month by cryptocurrency exchange KuCoin, German 44% to cryptocurrencies investment happy to do and people with cryptocurrency investments in Germany 37% more than a year trading cryptocurrencies.