The first bank in Germany licensed to deposit cryptocurrency

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On November 15, Commerzbank became the first German bank to receive a cryptocurrency custody license from the German Federal Financial Supervisory Authority and the European Central Bank. With the license, Commerzbank can expand its cryptocurrency services and plans to develop a secure and compliant private blockchain platform.

This move is a premise for the expansion of the cryptocurrency market in Germany, as a number of other long-standing traditional banks such as Deutsche Bank AG have also applied to provide services. Dr. Jörg Oliveri del Castillo-Schulz, CEO of Commerzbank, Chia that this is an important step, demonstrating Commerzbank's commitment and ambition with new technology.

Commerzbank is the first bank in Germany licensed to deposit cryptocurrencies

Commerzbank is a famous German bank, currently serving about 11 million customers. Commerzbank branches are present in more than 40 countries and contribute about 30% of Germany's foreign trade.

According to Chainalysis, Germany is the country with the second largest cryptocurrency economy in Europe. In addition, the 2022 CoinCub ranking determined that Germany is the most cryptocurrency-friendly country globally.

Recently , the German intelligence agency, Bundesnachrichtendienst (BND) launched a collection of nearly 1,000 Non-Fungible Token Dogs of BND , inspired by sniffer dogs to attract talented personnel in the field of blockchain and web3 security. .

Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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