DekaBank Launches Cryptocurrency Trading and Custody Services for Institutions
DekaBank, a German investment bank managing €377 billion ($395 billion) in assets, has launched cryptocurrency trading and custody services for institutional clients following nearly two years of development.
Key points include:
- Received regulatory approval for a crypto custody license from BaFin.
- Operates under the supervision of the European Central Bank (ECB).
- Focus on security and regulatory compliance in their offerings.
- Other institutions like Landesbank Baden-Württemberg are also entering the crypto space.
- Germany's cooperative banks, led by DZ Bank, plan to offer crypto services to private customers mid-year.
Board member Martin K. Müller emphasized DekaBank's experience and infrastructure readiness to support institutional clients.