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Major German financial institution DekaBank has launched cryptocurrency trading and custody services tailored for institutional clients. Following nearly two years of development the Frankfurt-based bank now offers these services backed by a crypto custody license approved by Germany’s Federal Financial Supervisory Authority (BaFin). Operating under the strict oversight of the European Central Bank the initiative highlights DekaBank’s robust infrastructure and regulatory adherence.
Martin K. Müller a board member at DekaBank emphasized the bank’s readiness and capability to support the savings banks and institutional clients. With 377 billion euros in assets under management DekaBank is poised to set a high standard in the integration of digital assets into traditional banking. This move is part of a broader trend within the German savings bank sector which includes other institutions like Landesbank Baden-Württemberg partnering with platforms such as Bitpanda.
The broader German financial landscape is also evolving with cooperative banks like DZ Bank gearing up to introduce a cryptocurrency offering for private customers by mid-year. This plan developed in collaboration with IT service provider Atruvia and the Stuttgart Stock Exchange marks a significant step in mainstreaming cryptocurrency services across Germany’s financial institutions.
