German banking giant DekaBank has announced that it will offer crypto money service to institutional customers.
DekaBank, which has $390 million in assets under its management, in the statement, Swiss-based cryptocurrency company to provide crypto services, including Bitcoin, to its institutional clients Partnering with Metaco announced. DekaBank is a joint venture of Metaco to handle crypto custody and asset management operations. from storage technology will benefit.
Thanks to this partnership DekaBank has established, leading banks such as Societe Generale and Citibank Service from Metaco became a partner.
DekaBank’s manager responsible for the custody of digital assets Andreas Sack In a statement on the subject, digital assets “radical elements that will play a role in the future” described it as:
Digital assets are a critical part of the future, a radical new way of representing assets, from currencies to real estate. Today we are preparing a way to give our institutional investors and millions of people in Germany access to this transformational opportunity.
On the other hand, in order for the crypto money services to be offered by DekaBank to operate legally, the country’s financial markets regulator, the German Banks Regulation and Supervision Agency. (BaFin) needs a license. According to the latest reports, the approval process still continues.