Commerzbank, a major German bank, has partnered with Crypto Finance, a subsidiary of Deutsche Börse, to provide Bitcoin and Ether trading and custody services to its corporate clients.
Initially, the service will focus on two leading Cryptoasset , targeting customers looking for secure and easy access to digital assets. As part of the partnership, Commerzbank will manage the custody of digital assets, while Crypto Finance will ensure secure transactions for users.
Customers will benefit from the established and regulatory structures of the two entities. Both Commerzbank and Crypto Finance have obtained the relevant licenses to provide crypto services in Germany .
In early February, Crypto Finance received four licenses from BaFin for digital asset trading and custody services, a move that ensures the company’s operations comply with EU MiCA regulations.
In March, Deutsche Börse launched a regulated platform for spot crypto asset trading, enhancing market transparency and security for institutional clients in Europe.
Commerzbank is the first bank to be granted a full Crypto Custody Services License in Germany, allowing the bank to expand its digital asset services.
Discussing the partnership with Crypto Finance, Gernot Kleckner, Member of the Managing Board for Capital Markets – Corporate Clients at Commerzbank, said that this allows the bank’s clients to access and trade Bitcoin and Ether for the first time.
“For the first time, the bank offers digital assets that enable corporate clients to seize the opportunities offered by Bitcoin and Ether. The cooperation aims to enhance the highest level of security for crypto-asset transactions and custody, a standard that Commerzbank also Chia with Deutsche Börse Group.”
According to Stijn Vander Straeten, CEO of Crypto Finance, this partnership will help the company expand its reach to more entities and institutions in Germany, providing them with access to regulated cryptocurrency services.
“With the tailor-made solution for Commerzbank, Crypto Finance is reinforcing its commitment to providing secure digital asset solutions across Europe, supporting the growing demand for crypto services from large institutional investors in Germany and the EU.”
The move comes at a time when several German banks, such as LBBW and DZ Bank, are also stepping up their efforts to offer cryptocurrency services. LBBW, in partnership with exchange Bitpanda, is launching a crypto custody service in the second half of this year.
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