Commerzbank Obtains Cryptocurrency Custody License.
- Posted on November 15, 2023 10:33 PM
- Cryptocurrency Exchanges News
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Commerzbank has become the first service bank in Germany to obtain a cryptocurrency custody license. The bank spokesperson stated in an announcement that the license was granted by the German Federal Financial Supervisory Authority and the European Central Bank.
With this move, Commerzbank aims to support its institutional customers by establishing a secure storage platform for cryptocurrency assets based on blockchain technology. The bank plans to provide services to its customers through this platform, ensuring full legal compliance.
Commerzbank, one of Germany's leading banking institutions, had previously announced its application for a local cryptocurrency license earlier this year. This step drew attention as a major bank in the country ventured into cryptocurrencies for the first time.