German bank Commerzbank is the first “full-service bank” to receive a crypto custody license, according to a press release on Wednesday.

The bank was granted the license under the German Banking Act (KWG). 

Commerzbank can now offer digital asset services, and the bank plans to “establish a secure and reliable platform with full regulatory compliance to support its institutional clients by providing custody for crypto assets based on blockchain technology.”

“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…

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