DZ Bank, Germany's third largest bank, has entered the digital asset custody space with its newly launched blockchain-based platform. In a statement made on November 2, it was stated that the platform focuses on serving institutional customers and will provide access to crypto securities such as Siemens crypto bonds. DZ Bank is not content with crypto securities and aims to enable institutional investors and private customers to purchase cryptocurrencies such as Bitcoin in the near future. To this end, the bank applied for a crypto asset custody license with the German Federal Financial Supervisory Authority (BaFin) in June 2023.