Deutsche Bank, one of the largest banks in the world, has applied for a digital asset license to Germany’s regulator, BaFin.
According to the news reported by Bloomberg, Deutsche Bank has turned to BaFin for a digital asset license, which includes crypto money services. (German Banks Regulation and Supervision Agency) applied. If the bank can obtain the said license, its customers, including cryptocurrencies, custody service for digital assets can present.
head of Deutsche Bank’s commercial banking unit David Lynne In his statement on 20 June, he made the following statements:
We are developing our digital assets and custody business. Referring to Germany’s securities supervisory authority, we have just submitted our application to Bafin for a digital asset license.
Deutsche Bank is one of the largest and best-known banks in Germany and many branches around the world exists.
Having a BaFin license indicates that a company or individual is honest and transparent when serving customers in Germany, follows laws and regulations, and protects the interests of customers. This is customer service quality and reliability provides some degree of assurance.
German banking giant DekaBankfor corporate clients provide cryptocurrency services It came to the fore by applying to BaFin for this purpose.