Commerzbank has turn into the primary German full-service financial institution to be granted the Crypto Custody Licence pursuant to Article 1 Part 1a Sentence 1 No 6 German Banking Act (KWG).
The licence will allow the Financial institution to construct up a broad vary of digital asset providers, with specific emphasis on crypto belongings.
Step one by the Financial institution is to determine a safe and dependable platform with full regulatory compliance to help its institutional purchasers by offering custody for crypto belongings primarily based on blockchain know-how.
“Now that we now have been granted the licence, we now have achieved an necessary milestone. This highlights our ongoing dedication to making use of the most recent applied sciences and improvements, and it types the muse for supporting our clients within the areas of digital belongings,” commented Dr Jörg Oliveri del Castillo-Schulz, Chief Working Officer of Commerzbank.