A license from the German Federal Financial Supervisory Authority (BaFin) to store crypto assets will allow the credit institution to offer clients the opportunity to diversify their investment portfolio with digital assets.
Now Commerzbank serves more than 18.8 million individuals and small businesses, and more than 70,000 employee clients of multinational corporations, financial services companies and institutional clients.
Commerzbank was one of four German financial institutions that managed to obtain approval from BaFin. The regulator states that more than 25 applications from representatives of the banking industry wishing to engage in the storage of crypto assets are under consideration.
The day before, Germany’s third largest bank, DZ Bank, announced the launch of its own platform for storing digital assets. The platform will work with institutional clients, offering tokenized securities such as Siemens crypto bonds.
Source: Bits
I am an experienced journalist, writer, and editor with a passion for finance and business news. I have been working in the journalism field for over 6 years, covering a variety of topics from finance to technology. As an author at World Stock Market, I specialize in finance business-related topics.
