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Commerzbank Receives Crypto Custody License in Germany

< SmartBot Blog



Commerzbank has become the first full-service bank in Germany to receive a crypto custody license, allowing it to offer custody services for crypto assets and expand its digital asset offerings. The license, granted under the German Banking Act, marks a significant milestone for Commerzbank in adopting the latest technologies. The bank aims to establish a secure and reliable platform in compliance with local regulations to support its institutional clients through crypto custody services via blockchain. This move follows a trend in Germany, with DZ Bank, the country's third-largest bank, announcing its crypto custody offerings earlier in November, signaling the growing momentum in the German crypto landscape.