The crypto market continues to attract institutional players, and financial giants have joined the party. While BlackRock continues with its spot Bitcoin & Ether ETFs pursuit, German regulators have granted Commerzbank a cryptocurrency custody license.
Commerzbank enters the crypto world
The latest announcement by Commerzbank shows the bank acquired a crypto custody certificate. The financial institution will use the license to offer various digital asset services. Moreover, it shows Commerzbank’s dedication to providing its clients with the latest innovations and technologies. The bank’s Chief Operating Officer, Dr Jorg Oliveri, stated,
“Now that we have been granted the license, we have achieved an important milestone. This highlights our ongoing commitment to applying the latest technologies and innovations, and it forms the foundation for supporting our customers in the areas of digital assets.”
Commerzbank has become Germany’s first full-service financial institution to obtain this license, representing a crucial move in crypto adoption. The bank will introduce a secure and compliant platform to its corporate clients by offering custody for crypto assets.
While these developments didn’t catalyze massive actions in the digital assets industry, Commerzbank’s move confirms the increasing institutional interest in blockchain-based services.
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