Commerzbank, one of Germany’s largest banks, received a license to offer cryptocurrency custody services to its customers.
According to Bloomberg, the Frankfurt-based bank commerzbank, obtained a license for its cryptocurrency custody service. Thanks to this license, the bank “will be able to develop comprehensive services for digital assets, with a particular emphasis on crypto assets.”
Many banks in Europe have been involved in the cryptocurrency market in the past years. the risks involved Therefore, he preferred to stay away from cryptocurrencies. However, this trend is changing.
Societe Generale SA’s blockchain unit was licensed in accordance with new cryptocurrency applications in France in the summer. DZ Bank AG in Germany also launched a platform for custody of digital assets earlier this month.
Commerzbank to provide custody services for cryptocurrencies to its corporate customers “a safe and reliable platform that fully complies with the law” will establish.
Commerzbank COO Dr Jörg Oliveri del Castillo-Schulz said:
“By obtaining this license, we have passed an important milestone. “This demonstrates our commitment to using the most up-to-date technologies and innovations, and lays the foundation for us to be able to support our customers in the digital asset space.”