Commerzbank Secures Crypto Custody License

Commerzbank, one of Germany’s top four banks, has achieved a significant milestone by becoming the first among its peers to secure the Crypto Custody License under Article 1 Section 1a Sentence 1 No 6 German Banking Act (KWG). This newly acquired license enables Commerzbank to offer a comprehensive range of digital asset services, with a focus on bitcoin and other crypto assets.

Digital Asset Services Platform

The first step for Commerzbank with this license is to establish a robust, secure, and fully compliant platform tailored to institutional clients in need of secure custody solutions for their crypto assets. Dr. Jörg Oliveri del Castillo-Schulz, Chief Operating Officer of Commerzbank, emphasized the importance of the license, stating, “Now that we have been granted the licence, 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.”

Building Trust and Advancements

By obtaining this license, Commerzbank aims to create a secure environment that not only fosters trust but also acts as a catalyst for further advancements in the digital asset domain. The bank’s commitment to leveraging the latest technologies and innovations underscores its dedication to meeting the evolving needs of customers in the digital asset space.

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By Team