Commerzbank, Germany’s fourth-largest bank, announced its become the first among its peers to secure the Crypto Custody License under Article 1 Section 1a Sentence 1 No 6 German Banking Act (KWG).

The newly acquired license empowers Commerzbank to forge ahead in establishing a comprehensive range of digital asset services, with a specific emphasis on Bitcoin and crypto assets. The initial step involves the creation of a robust, secure, and fully compliant platform, designed to cater to institutional clients seeking secure custody solutions for their crypto assets.

“Now that we have been granted the licence, we have achieved an important milestone,” said Dr. Jörg Oliveri del…

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