Commerzbank, one of Germany’s largest banks, has partnered with Deutsche Börse’s Crypto Finance subsidiary to provide secure bitcoin and ether services to its corporate clients. The partnership focuses on seamless trading and custody solutions, ensuring regulated access to digital assets for select clients in Germany. It is a major step towards expanding institutional crypto services in Europe, with both companies emphasizing security and regulation.
Commerzbank and Crypto Finance Partner to Provide Cryptocurrency Solutions for Businesses
Financial giant Commerzbank announced on Thursday that it will partner with Deutsche Börse subsidiary Crypto Finance to offer digital asset services to its corporate clients. The new service focuses on bitcoin and ether, offering custody and secure trading services. Commerzbank is one of Germany’s largest banks, with significant operations in corporate banking, retail banking, and investment banking. As of 2024, the bank will have around 48,000 employees and serve around 11 million retail customers and more than 70,000 corporate customers worldwide.
The notice stated:
The joint service will initially focus on bitcoin and ether, targeting some of Commerzbank's existing corporate clients in Germany.
“Under this strategic partnership, Commerzbank will manage the custody of digital assets, while Crypto Finance will ensure their secure transactions. This cooperation provides Commerzbank’s corporate clients with seamless and secure access to crypto assets, without having to abandon established and regulated structures and partners,” the announcement further detailed.
Commerzbank has received a crypto custody license in 2023, expanding its ability to offer regulated digital asset services, while Crypto Finance strengthens its role in Europe's crypto ecosystem through partnerships.
Gernot Kleckner, Member of the Board of Management of Commerzbank Capital Markets, highlighted the importance of cooperation:
Our digital asset services enable enterprise clients to seize the opportunities presented by bitcoin and ether for the first time.
This strategic move provides clients with security and expertise. Crypto Finance CEO Stijn Vander Straeten highlighted the growing demand for institutional crypto services, stating that the partnership allows Crypto Finance to further expand its regulated services across Germany and Europe.
What do you think about the collaboration between Commerzbank and Deutsche Börse subsidiary Crypto Finance? Let us know in the comments below.
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